Tuesday, November 29, 2022

Tech Titan Mark Cuban Working Toward Helping Hospitals to Eliminate Drug Shortages

Most folks, whether you are in healthcare or not, are well aware of all kinds of supply chain issues that were caused by all of the shutdowns during the stop the spread part in the early days of the pandemic.  It's been amazing to see what things are and what are NOT readily available since then.  The automobile industry has been especially hard hit as they depend on *lots* of parts from many, many companies.  Getting things back on track since 2020 is *still* a challenge.

 As most of us in healthcare know, since the whole Covid-19 supply chain problem began to rear its ugly head, there have been shortages of different drugs at different times.  Obviously shortages of medications can be hugely impactful for patients that require certain medications to stay healthy or stay alive.  If you've ever wondered what drugs are impacted by shortages, the FDA has a website that you can consult to find out.  That FDA page also has a link to the Google Play Store and the Apple App Store where you can download mobile apps that will also give you the info.

Needless to say, the solution needs to be uncovered because drug shortages can have serious consequences.  That's why I was happy to come across some info regarding tech entrepreneur Mark Cuban, putting his efforts behind a way to help solve this problem.  He has created the Mark Cuban Cost Plus Drug Company.  The idea is that the company will produce low-cost versions of costly generic drugs.  He has also said the company plans to "provide radical transparency in how we price our drugs."

It seems that in February 2022, the company began construction on an $11 million facility in Dallas to manufacture some of those drugs.  The plant is said to be due to open early in 2023.  

If you are interested in more info on this project, Mr. Cuban recently discussed the concept on a podcast popular with investors.  You can listen to the podcast by following this link...  

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