How Mark Cuban Is Trying to Disrupt Big Pharma | WSJ 

Sure!

Prove it

Nvm don't stay safe yo.

@@jeffder7143 You're hired.

Haha those are very specific numbers you’re giving for your net monthly medication costs. God I love internet trolls hahaha

Just curious what cholesterol medication? Atorvastatin?? And how many tablets??

@@wisdomisawesome5934 His is 90 count Fenofibrate

@@andreeab82 oh wow that’s really expensive for something like that. Any discount card would be better than that

Government run healthcare ruins the free market, it takes away the competition. When a Doctor chooses a prescription for you, he is going to choose the most expensive one, because he knows Government run healthcare will pay for it and he gets a kick back by using the Government system. In order for Mark Cuban to survive, Government needs to get out of the healthcare business and bring back competition and the free market to healthcare.

Just stop eating meat and eggs and you wont need any medication

As a European 500 a month for something necessary to stay alive is crazy... really rooting for you and everyone in the states to finally normalize the healthcare industry.

@@max2themax don't believe everything you read on the internet. If they were a real broke college kid the government would cover all the costs through Medicaid

@@max2themax also in college, I pay $429 per month just for meds. Almost $300 for my health insurance.

@@onemorelivingvids That's so sad... Rich people in power really don't care about the public, do they?

@@onemorelivingvids what do you get? Controlled substance?

Hard to believe. I keep wondering what the catch is.

It's about time, his prior behavior did not predict this, but it's never too late to "break good".

@@rabbit251 The catch is that money doesn't actually turn you evil.

@@rabbit251 Yes there might be a catch, Mark Cuban is a businessman at the end of the day. But you also have to understand a larger situation and what his business helps to alleviate. People in the US are being gouged deeply for medication, generics even, that are extremely cheaper outside of the US. His company sells the generic medication for a whole lot cheaper. You might have to take some bullets to win a war. Yes, there might be a catch. But also yes, his business helps save people's lives. And in the absence of other options, I guess you have to swallow whatever doubts you have and let him operate if it means his company can help make drug prices in the US go down a lot.

He should be our president

What do you expect when corporations run the country- not elected officials? This has only become more extreme since the Raegan Era.

@@MAYK1NG and why would elected officials run the economy? They are just chosen people who are truly incompetent in understanding how a particular industry works

Because government intervening in the US for the public is often painted as being communism

@@tomlxyz its not communism, but gives government a lot of control to abuse citizens later in very subtle ways like subsidies, corruption, bailouts, federal funding, etc

US ‘leadership’ have now successfully outdone the companies in playing games with peoples lives. They are gaslighting the population into the ground

Right?! Thats EXACTLY what I commented saying!

He's a billionaire. He's probably got a whole entourage watching his back at all times.

We can wish and pray for his safety everyday

Big business in the US is violent in its own way but it's not Russia, these kinds of murders don't happen

@@huguesjouffrai9618 you'd be surprised

Too much money in it. They wont pass for him to get his managers. Too much money in it for the rich to lose, capitalism always wins, mark will lose this fight. BILLIONS in revenue will be lost every year if he succeeds.

@nuck. What do you think capitalism actually is? It is not “all money goes to the wealthy” it is a system where the most competitive product wins. Cuban is doing just that, putting out a better product at a cheaper price…Yes, capitalism will win because it is a better product in this case. The only thing that can derail this would be the government stepping in on behalf of the pharmacies…which is distinctly not capitalism.

@@jhassemer good thing cuban is a well known figure and billionaire, so they have to play it safe with him.

When was the last time you've seen marketing being done for a generic drugs retailer? Name one. It already doesn't happen. Business is done through farmacies.

@@stertcraft I get what you mean but he's not competing against generic drug brands.

You’re European? Cool. I’m North American. Lol.

@@stertcraft in the Philippines we have riteMed. They do a lot of marketing, and their business model is similar to Cuban's.

I appreciate that, fellow human

They don't have mrp system in place. So costs differ at different places

Umm, no thank you India you can keep your medications, you guys probably add asbestos to your meds to save a few $$$

@@donator5724 Or Insurance which makes a big difference. The direct pay system works for 90% of the people. Just gets expensive at the upper end for cure and treatment of big diseases. Over inflated admin costs (jobs for the sake of having jobs) always tend to inflate prices.

@@donator5724 they don't have as many generic drugs as we do.

Y’all sell it for cheap and America ads 2 extra 0s to make a big profit 🤣

I mean, he's said before that he's at the point in his life where he doesn't care about maximizing profit (as much) anymore, he's said he just wants to compete and disrupt industries and he is really making waves so far. He has also mentioned about trying to do a bare bones college type of program too, to disrupt higher ed, which I would be all for.

Yours is the wisest post of the day. These large companies are akin to the mafia and will crush any person, place, or thing that gets in their way. We are governed by money in politics and not those we elect to govern us. We are governed from corporate boardrooms. If he doesn't have it he would be wise to keep a bodyguard or two around.

Yeah.

He needs to be careful he doesn't get Epstein'd

Literally… watch out for gates

@@foycur I don’t think Cuban has sex with children

We have a similar system in the UK, it’s £9.95 ($19.46 NZD) per item, but you can get an annual pass for £108.10 ($211.40 NZD).

Nice

New Zealand is also one of the biggest consumers of anti-depressants. I guess when it's $5, once you pop you can't stop. I've always wanted my home country to be hooked on anti-depressants. There's benefits and drawbacks to every system. But sure, new Zealand sunshine and daisy's, just ask the aboriginals.... oh wait......

@@johnnyduran4019 the us famously has never had drug problems, not in the poor minority communities, not in rural mountain communities, not in the suburban middle class, and not in rich communities. Famously crack heroin weed/Adderall and cocaine do not exist

@@johnnyduran4019 Hahahha this is such a cope. If one country in the world has a problem with people getting addicted on drugs through prescription medicine its the US. Ever heard of the opiod crisis?

They are probably applying some discount card on the Rx. Usually pharmacies lose money when they do that.

Probably used a GoodRX card

I tried that at a pharmacy once and my $70 prescription became $400 😭

@@4FYTfa8EjYHNXjChe8xs7xmC5pNEtz that's what they charge without insurance. That's why you use a drug discount card to lower the price. There free.

Funny because even here in Canada you end up paying more for prescriptions unless you're part of some sort of drug benefit program (insurance).

Let buy share in the company. Now

@@umarmoro4336 They'd have to be public for you to do that, they're not, and probably won't be or else they'd be victim to a hostile takeover very very rapidly.

Nobody would put a billion dollars out just to get their money back.

@@blipblop92 you are so close to understanding why governments need to protect healthcare

@@Randomkloud Protecting healthcare the Bureaucrats decide who wins and the job after government depends on how well they do FOR the drug companies

making obscene profits from sick people is absolutely disgusting. people should be in jail rotting away for that kind of inhumanity toward the most vulnerable.

That's awesome man.

@@mango-strawberry Thanks. I am telling anybody and everybody that he is saving me tons of money for the same drugs. Amazing how he can get it done, but CVS, Rite Aid are still screwing the public over.

Big pharma would epstein him

@@Fanta.... If you think they're bad, don't look at your doctor's books, you'll never trust them again.

Yes, but that is because their governments basically don't let pharma companies set their own prices and extend their patents forever. Essentially, US consumers fund drug R&D for the rest of the world right now. If the US gov't stops this, who will pay the billions of dollars necessary to develop and test each new drug? If they do make any changes to this system, it needs to be done very carefully. There's very good reasons why most major pharma companies are US companies primarily earning money in the US.

@@TohaBgood2 Lol no, much of the money earned by drug companies actually vanishes into the pockets of shareholders and executives.

@@TohaBgood2 the majority of R&D is funded by government programs. Only the last steps to commercialisation of the drug is handled solely by the manufacturer. Many drug research companies also fund that with investments and the stock market. There's a reason why holding drug company stock is so popular, massive profit margins.

@@TohaBgood2 I'm curious, do you work for big pharma or have you just been taken in by their propaganda? What you say is nonsense. It's been studied & proven as such The United States accounted for 42% of prescription drug spending and 40% of the total GDP among innovator countries and was responsible for the development of 43.7% of the NMEs (new drugs). The United Kingdom, Switzerland, and a few other countries innovated proportionally more than their contribution to GDP or prescription drug spending

@@Refrack Similarly, when a drug doesn't work out they eat the billions in sunk costs they just wasted over 10 years with zero results. Are you prepared to pay for that as a taxpayer? I'm honestly not. The government is the only entity that is capable of funding fundamental research and we need to fund more of it. But when it comes to bringing products to market, the government is basically incompetent. The profits are a payment for risk. If we were to do all of that R&D and testing on the government's dime we'd have to eat all those costs. Right now, the company can either eat the cost or file for bankruptcy. Either way investors pay for it not the taxpayer. Look, I'm not saying this is the best way of doing this, not by a long shot. But this system works right now. If you propose we change something, then that something needs to work better than the current system. Otherwise, there's not reason to make the switch, is there? How can you do that if you don't even understand how the current system works?

More than willing to bet that health insurance is a big part of the reason why healthcare is so expensive to begin with. In America, all they do is incentivize cost shifting which makes everything more expensive down the line.

@@Misaka-gt5yj It's the "cut" of the Pharmacy Benefit Manager (PBM) that sends the cost of prescription medications into outer space. 😱💸😒 If the drug companies could figure out how to cut out the PBM, even new drugs could become way cheaper.

I dont understand why you have to specify that you have health insurance. In my country everyone has health insurance. It is the norm.

@@thekraken1173 congratulations for living in a sane country. Here it is not the norm.

@@thekraken1173 here, it’s dictated by whether you have a decent job or not. Don’t my fellow Americans love having insurance up until your employer has to lay you off?

he’s monetizing alright.. but it’s deserved.

Yeah, but that's because those countries' governments specifically provide for that to be the case. In the US pharma companies can basically extend their patents forever so generics are almost never truly an alternative for a certain class of medications, usually the most lifesaving. We could end this system, but that would mean that these pharma companies would never make enough money to justify the costs of developing some kinds of new drugs. Basically, right now the US consumer pays for drug R&D for the rest of the world. We could make existing drugs cheaper, but at the cost of not having as much new lifesaving drugs being developed in the future. As with all things, this is a double-edged sword. Short term gain for longterm pain, if we do it wrong.

@@TohaBgood2 you’re absolutely right and a lot of people don’t know this…. They only see the big pharma as evil

@@TohaBgood2 Why confuse a band aid, with a cure.

@@TohaBgood2 a lot of them don't really 'research' the drugs. Buying out small companies, or the product and patent itself counts as 'research'.

@@alexandervowles3518 Where exactly are you getting your data on this from? That’s not really true. Whether done by the parent company or whatever smaller company they acquire, you still need to do massive amounts of work to bring anything remotely medical to market. The FDA isn’t messing around and a single dangerous drug can be game over for an entire pharma company. The patent can come at any stage they feel like they have worthwhile IP to protect. Someone still needs to develop both the drug itself as well as the technology to produce it cheaply and safely. All of that costs enormous amounts of money snd usually is an upfront investment before they can even begin trials and see if it really works.

They will negotiate with you. They never advertise this, of course.

People without insurance actually can get the best rates.

Protect this man

even when you're insured, it's a scam. the profits from insurers that flow to the producers keep the prices high.

Insurance is sadly one of the reasons prices are so high. They know insurance companies will cover the costs. It’s pure greed.

spotted another cuban bot

You are aware that 99% of all those cheap drugs you enjoy where developed by American and European companies spending billions in R&D? All this is possible because US and European countries pay a lot for these drugs that you enjoy so cheaply. If all countries would have such cheap prices as your country, there wouldn't be any new and expensive medicines in development. Im not arguing for ripping of US consumers, but pointing at them for "being stupid" while you are so smart, is kinda ...

You have a misconception. Maybe some drugs that are difficult to produce may be imported from other countries but most prescription medicine(~80-90%) in Bangladesh are manufactured by pharmaceuticals in the country.

@@anujpandita3387 Bangladesh has around 200 local pharma companies who meet 97% of the local demand and export Pharma products to 79 countries across globe, majority being in Europe.

@@anujpandita3387 as a physician in Bangladesh, I can confirm you are wrong. 99% drugs here are produced by our local pharma and international Pharma’s are running out of business every year. Even we export drugs to menu country’s even in USA

It's cheap because Bangladesh does effectively no R&D research. Just taking already researched and developed molecules and manufacturing them. America is responsible for 50% of new drug discovery and the American market is the primary market for all pharama companies to earn their billions spent in R&D back. Make no mistake, Americans are fed up with their current subsidization of global pharma development, but that will mean a serious global slow down in new drug research.

The rest of the world pays for that socialized medicine with their much higher taxes. They are still paying, the cost is just hidden. Also note a huge part of the insanely inflated costs here in the US are because of artifically created (by the government) boundaries insurance companies can operate in which has prevented competition and allowed them to control pricing for thier profit.

I'd rather have USA medicine than the medicine we have now in South Korea, socialized medicine. Reimbursement rate for doctors are ridiculously cheap to reduce cost that doctors just gave up on practicing some specialties, like general surgery, cardiothoracic, and ob/gyn. They lose money for hospitals so no hospitals are willing to hire them. It's great for patients but no one wants to do these jobs anymore. 1 cardiothoracic resident covers 5 hospital systems it's ridiculous. This system cannot be sustained and the govt is trying to turn it to more Americanized medicine

they mean there's no long term solution to where they can make a lot of money off of it..

@@Luckingsworth lol check your taxes mate. Americans pay more than Europeans for healtcare in taxes and gets nothing back🤣 love how you cope about your corrupt system

@@Luckingsworth no, not how it works.

That's very practical and smart goal, a wise man once said do everything you can to get outta debt, one of his tips to getting rich

Just do the right thing, by trading with an expert, I trust me you will be a millionaire and debt free

Your businesses will make you rich but your investments will make you wealthy

When you invest in crypto you are buying days you don't need to work

Now is the best time to purchase and invest in bitcoin, stop procastinating.

he will probbly build the company up prob then sell it later on like he has in the past

@@codien-a2217 I wouldn't blame him, as long as the business model doesn't change, he can do what he wants.

Right, its HIM exploiting the gap, not the 5000% markup drug companies....right?

@@chaoswraith Exactly! How is HE exploiting the market?

@@chaoswraith both ideas can exist at the same time. It's just that one is actually doing some good as a consequence.

insurance is suppose to negotiate a price. that is what they did, they negotiated the higher price so they make more money :p

yeah investment is the key to sustaining your financial longevity but venturing into any legitimate Investment without a proper guidance of an expert can lead to a great loss too

you're right Forex trading is surely a lucrative way to invest whether you want growth, leverage, stable income or something in between.

yeah for sure, honestly I made 62,800 dollars within 6days of trading with Bit coin.

It's really profitable for me and I will encourage anyone interested should invest in it now 💯

@Charity Silas I don't really trade, I recommend mrs Catalina Vladimir, she trade for me.

What is more impressive is that he’s self made too

@@Aguynearu I didn't know that!! That's probably why he is so humble.

@@DrewRueDoo yeah until you see him on shark tank. But that’s just a fake persona for a show

"It's great to have some decent rich people like him." Yes, I agree! Mark Cuban Joaquín Guzmán Ismael Zambada Heriberto Lazcano Vicente Carrillo Fuentes Jorge Eduardo Costilla Héctor Beltrán Leyva Nazario Moreno González Juan José Esparragoza Antonio Ezequiel Cárdenas Luis Fernando Sánchez Arellano

Moreover large companies use huge ammount of public money invested in research and development. Public input, private output.

- It’s all about the GREED.

These drugs would not exist without our capitalist system, check yourself

@@hissyfitz7890 Yup. But it isn't hard to fight against it with proper policy. Full transparency, regulation cutting. It's beyond believable how insulin costs in United States.

@@FengG0 Which drugs? Generics? Insulin? This hasn't anything with capitalism, more with over regulation and cronyism. In free market such things could be much cheaper. You know, some Americans buy them abroad for lower prices.

Joaquín Guzmán would be proud of Mark.

Good for you iatrogenic harm is a leading cause of death.

Go abroad brother

i live in italy i have a genetic desease i see my doctor at least 3 time at year, also all my medicine and my specialist( neuorosugent, mri, optometrist, dermatolog) are free (i pay only the gas for the car).

@@Lorre982 oh

if your income is low, most of the "Obamacare" plan is paid for by the govt. Just sign up online!

Is it safe?

@@glizzyketchup5822 I mean my mom has been taking it for awhile now and hasn’t had any problems

@@glizzyketchup5822 it's the exact same drugs. Totally safe.

@@glizzyketchup5822 There are 0 differences between a "brand name" and "generic name" drug. The active ingredients are the same. Branding is something marketing in capitalism has been widely successful at. It's based on psychology, I believe. We like to trust things that have names as opposed to "no names".

No one would not like to be treated for free in Govt Hospitals. Only people with out any other option go there

@@gsnayak06 lol,😂 in India best doctors are found in government hospitals, those who couldn't able to clear the test, go for private hospitals, obviously big giant private hospitals are exception

@@vitaminprotein325 could be but facility / infra, cleanliness, security of govt hospital is not something any one wants to put up with

@@gsnayak06 Cant say it has ever crossed my mind to go private when I have an free to use public hospital university near by.

@@gsnayak06 “no one would not like to be treated for free…” you know what, in your mistake you actually said the truth.

YES! he totally seems like he is for the working class: just a normal billionaire worth about 4 billion and he owns the Dallas Mavericks. Recently Mark Cuban admitted that the Mavericks were intentionally losing games and was fined 600,000 dollars for it Cuban is an associate of the intermarried Borghese and Torlonia families

I soooo agree with everything you have said! It is going to take more people like this man who have more money then any one person needs and now they are trying to do their part to help our country!

no, we need to make it so that CHEAP medicines are PROFITABLE and HIGH MARGIN medicines become a liability only by then they will lower their margins

Elon Musk is like that. Yeah he’s obnoxious at time but it doesn’t take a rocket scientist to see how bad fuel cars are for our planet. Electric is required to keep Earth sustainable

if you only know how many billionares changed the world. your mind would explode.

@@talavera180 agreed. Although some billionaires don’t act like it , they all had vision . Almost every thing you use that made your life easier is made by a billionaire.

put all prescription drugs in the public domain after a year.

Lol the market is broken only in US thanks to Bush.

Price transparency will help promote consumer awareness and will bring down the price

@@velgurusamy971 absolutely. The consumer should be price shopping, but if CVS has is for $142, Walgreens $141, and Rite Aid $143, there's not any real competition. But if Cuban can be like "it costs $15 to make and I'm selling it for $40, not $140" THEN you have market disruption.

The reason there is no competition in the drug market is *because* of government regulation. Look at prices of rhinoplasty and laser eye surgery if you want to see how competitive markets work in this industry. The broken marketplace is a government created one.

Even if the rocket can land itself?

@@brandonhilton5071 I mean we still have a lot of problem on earth so why not focus on those first then space next?

@@Nhan_nguyen271 human car deaths and car pollution impact globally. electric self-driving cars (like by elon or google) fix that. the space tech of today (like what spacex continues to engineer) advances new materials and technologies for other industries worldwide. getting to mars is a nice goal.. but even the preparation fuels engineering progress for all humanity. sure Cost Plus helps ppl too -- but it's a solution for just a usa problem. most other developed nations don't need a cost plus.

@@WebbyStudio Like I said ,not the cost plus company but problems on earth in general . How about deal with hunger, homeless or diseases that developed countries get rid of it decade ago but developing country still struggle with it? And for any people that say that it was not developed countries responsibility : I don't want to portrait developed country as villains but they are part of the reason that pushing some of developing countries into crisis (history).

Have a look at some of the videos of him on sharktank & you'll probably change your mind. He comes across as the nice guy & least arrogant of all of them on that (to me anyway)

I truly agree with you on that,

I must say crypto is the future and with the way Bitcoin is climbing so high it's really advisable for people to invest now.

Mrs Kamilla helped me recovered all I've lost trading by myself

Ever since I lost my job with the ministry, I have been surviving through my investment with her, am so glad I invested when I did. I’m earring $25k weekly with her

Investment is that tiny line that separates the rich from the poor.

That's awesome to hear! Best of luck to your family and mother!

Yeah, and the R&D is totally free too!

A quote from the TV show 'The West Wing ', "The pill costs $1 to make" "No, the second pill costs $1 to make, the first one cost $1B". Don't get me wrong, I support what he's doing because your prices (Aussie here) are insane. But let's not discount the efforts to create those drugs in the first place.

You do realize that if successful, practically the whole drug distribution would be reliant on one company.

@@earlgray7003 no. The other companies will just adapt.

@@yeezet4592 You're clueless. You don't even realize you're arguing against Cuban's model.

@@earlgray7003 no I am not, at least from the perspective of a consumer.

@@yeezet4592 That's your fault. You're only viewing it from the rose-colored glasses of a consumer.