Billionaire entrepreneur Mark Cuban is offering generic imatinib at a substantially lower cost than current retail pricing.
The team analyzed 89 generic drugs listed at MCCPDC and found that Medicare Part D could have saved more than $3 billion in 2020 if they had purchased them at these prices. For example,, a commonly used psychiatric medication, was purchased for more than $2 per pill, while the same generic formulation of the drug is sold by Cuban's company for $0.24 per pill. Overall, just with this one drug, Medicare could have saved $233 million in 2020.Hussain S.
Lalani pointed out that the price transparency provided by MCCPDC is"helping us to understand the cost of many generic drugs and highlights inefficiencies in the supply chain for generic drugs." He added that innovation and policy reform are needed."We know that many drug prices are outrageous, and the supply chain is also expensive & NOT working right," he tweeted."We need a system that delivers innovative, affordable, and accessible medicines for all Americans."
However, the online pharmacy is a cash-only venture, since MCCPDC refuses to pay third-party PBMs in order to be allowed to process insurance claims. But the model allows patients to immediately purchase medications at a cost that is often less than what they might pay when having to deal with deductible and copay requirements.
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