Mark Cuban's pharmaceuticals startup ties up with RxPreferred

Mark Cuban's pharmaceuticals startup has partnered with pharmacy benefits manager RxPreferred Benefits, the companies announced on, in an effort to offer lower-cost drugs through some employer-sponsored health insurance plans. Mark Cuban Cost Plus Drugs obtains generic drugs directly from manufacturers and charges a standard markup on each drug sold. Customers of RxPreferred Benefits will be able to use Mark Cuban Cost Plus Drugs as part of their health insurance plans as a result of the collaboration.

"Our collaboration with RxPreferred is yet another step toward bringing transparency to healthcare and lowering drug costs for individuals and families across the country," Cuban said in a statement. In December, Mark Cuban Cost Plus Drugs announced a partnership with EmsanaRx, a nonprofit coalition of nearly 40 companies, including Walmart and Costco in the United States, that operates a PBM service for employers. PBMs act as go-betweens for drug manufacturers, health insurance plans, and pharmacies when it comes to negotiating prescription drug prices.