In this episode of the Rapid Response podcast, Alex Oshmyansky, CEO of Cost Plus Drugs, shares his journey in revolutionizing prescription drug pricing. Co-founded with Mark Cuban, the company aims to slash drug costs by revealing their true prices and applying a minimal markup. Oshmyansky faced early challenges in fundraising but secured Cuban's investment through a cold email. He then shifted the company’s focus to drug manufacturing to tackle shortages and further reduce prices. The success of Cost Plus Drugs largely stems from word-of-mouth marketing, which has also shed light on the exploitative practices of Pharmacy Benefit Managers (PBMs), prompting government investigations and potential reforms in the industry. With a background in medicine, Oshmyansky combines patience with strategic boldness, driving the rapid growth and significant influence of Cost Plus Drugs in the pharmaceutical landscape.
