Diabetes Foundation, Mark Cuban company offer lower-cost treatments
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A new collaboration aims to provide diabetes patients with more affordable medications.
The Diabetes Foundation Inc., a New Jersey-based not-for-profit organization, announced Aug. 3 that it has teamed up with the Mark Cuban Cost Plus Drug Co., a public-benefit corporation that works with health plans, managed-care organizations, pharmacy benefits managers and self-insured employers to offer similar savings that employer-sponsored benefit plans get.
“Many New Jersey residents living with diabetes are challenged to financially afford the high costs associated with living with their chronic condition each and every day,” Ginine Cilenti, executive director of the Diabetes Foundation, said in a statement. “Collaborations like this allow us to help address this concern through access to safe and affordable daily medications, a necessity along with self-management tools, for blood sugar management.”
Cost Plus Drugs takes the cost of a prescription, adds 15% to cover operating expenses and includes a transparent pharmacy labor fee and dispensing fee, resulting in a lower cost for participants, according to the announcement.
For example, a 30-day supply of metformin 500mg, the generic version of Glucophage, is $3.60 on costplusdrugs.com instead of $20 – a savings of 82%, according to the organizations. The Accu-Chek Guide Me Meter (for measuring blood glucose), normally $30, can be purchased from Cost Plus Drugs for $10.76 – a savings of 64%.
Dr. Alex Oshmyansky, CEO of the Mark Cuban Cost Plus Drug Co., said that, under the new relationship with the Diabetes Foundation, “consumers can be confident they are getting a fair price and the convenience of medication mailed directly to their homes.”
According to a Diabetes Foundation representative, foundation participants can order medication through Cost Plus Drugs. “Our guides help our participants to navigate the process until they get what they need to manage their care,” the representative added.
Founded in 1990, the Diabetes Foundation provides access to resources and medication necessary for people living with diabetes to remain healthy, regardless of income or health care coverage.
Diabetes medications have been making headlines as of late, not only for their costs but also for their side effects. In March, Sanofi – a French drugmaker that has its U.S. headquarters in Bridgewater – announced it would cut U.S. lists prices for its insulin product Lantus by 78% and out-of-pocket costs for those with private insurance.
Additionally, Novo Nordisk – which has its U.S. headquarters in Plainsboro – has faced everything from copycat versions to alleged health claims to supply shortages in regard to its weight-loss drug Wegovy and diabetes medication Ozempic.
