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Masters of Scale
Rapid Response: How Cost Plus Drugs is revolutionizing pharma, with CEO Alex Oshmyansky
Dec 3, 2024
In this enlightening conversation, Alex Oshmyansky, CEO and co-founder of Cost Plus Drugs, shares his journey from a young immigrant to a transformative force in the pharmaceutical industry. He discusses how the company is breaking down traditional drug pricing barriers with transparency and technology, revolutionizing access to medications. Oshmyansky also touches on his experiences transitioning from medicine to entrepreneurship, patience as a superpower, and the strategic partnerships that turned competitors into allies, all while advocating for affordable healthcare.
28:53
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Quick takeaways
- Cost Plus Drugs is significantly disrupting the pharmaceutical industry by providing transparent pricing that drastically reduces medication costs for consumers.
- The integration of advanced technologies, including robotics and AI, enhances Cost Plus Drugs' operational efficiency to meet growing demand while overcoming industry challenges.
Deep dives
Transforming Drug Pricing
Cost Plus Drugs aims to disrupt the pharmaceutical industry by offering prescription medications at significantly lower prices. The company operates on a transparent pricing model, charging only the actual cost of the drugs plus a small markup. For instance, a statin that costs $200 through traditional channels is available for around $5 through Cost Plus Drugs. This model directly counters the practices of pharmacy benefit managers (PBMs), which are identified as significant contributors to inflated drug prices.
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