Benzinga reports that Mark Cuban's Cost Plus Drug Co., which has been focused on reducing the cost of generic and name brand pharmaceuticals, has forged a relationship with Kroger that will have its Cost Plus Drug TeamCubanCard accepted in some 2,000 Kroger pharmacies around the country.
The card, according to the Cost Plus website, "is a brand new way to get great prices on your prescription drugs closer to home! Our card also pays a fair dispensing fee to independent and grocery pharmacies."
“Love to see it! Thanks Kroger!” Cuban tweeted yesterday.
The Cost Plus business model to this point has been focused on e-commerce, cutting out middlemen in the sourcing process as a way of reducing costs and prices.
- KC's View:
However they get there, it makes absolute sense for retailers to strive to reduce pharmacy costs - these charges can be onerous for people in a way that is frustrating because we're talking about folks' health and well-being here.
Cuban seems to have found a way to disrupt the system, and so good for him. And good for Kroger, which because of its size can create significant ripples in this segment.