Mark Cuban says he is not attempting to go to Mars

At WIRED”The big interview“Event earlier this month, Costs plus medication Founder and “Shark Tank” star Mark Cuban was asked why he wasn’t making more profits from his low-cost pharmaceutical company.

“You make it pretty clear that you’re not doing this for altruistic reasons – you’re running a business,” the event’s moderator noted.

“Well, I could make more money,” Cuban said to laughter from the group. “We are a non-profit company. But how much damn money do I need?”

“I’m not trying to go to Mars,” he added, in an apparent dig at his billionaire rival Elon Musk.

Related: Mark Cuban’s startup is sending its first shipment of important medicines to hospitals affected by shortages

What are “Cost Plus Drugs”?

Mark Cuban Cost Plus Drug Co. is a web-based pharmacy co-founded by Cuban and radiologist Alex Oshmyansky to revolutionize the pharmaceutical industry and reduce drug costs. Launched in January 2022, it offers greater than 2,300 prescription medications and their delivery.

How does Cost Plus Drugs price its medications?

On the corporate website Cuban outlines Here’s how the pricing structure works: Cost Plus increases the bottom price by 15% after which adds the actual cost the pharmacy charges her to organize the medication.

For example, a drug like albendazole, which treats ringworm and costs about $113 elsewhere Drugs.comis $35, in response to the letter. (Cuban wrote that the corporate paid $26.08.)

“Many people spend incredible amounts of money every month just to stay healthy,” Cuban wrote. “No American should have to suffer or suffer worse because they cannot afford basic prescription medications.”

Related: How Mark Cuban forced the biggest US pharmacy to show its business the wrong way up

What is a non-profit corporation?

A Benefit society– also often called a B Corporation– Unlike a non-profit organization, it has shareholders who own the corporate. So it’s about earning profits, but not about that.

While non-profit organizations (or not-for-profit organizations) serve a public profit and don’t make a profit, charities wish to earn cash while serving a purpose greater than themselves “and have a desire for the corporate to assist “to make the world a better place”, in response to Rick Bell from Harvard Business Services.