Mark Cuban believes his company can take on Amazon in the burgeoning online pharmaceutical market.
Amazon has its own Prime Pharmacy services, giving users discounted prices for subscription drugs. The company has had mixed results, with a recent survey showing Prime Pharmacy is one of the least important services to customers. Nonetheless, the company is continuing to expand, eyeing a potential entry into the Japanese market.
Despite Amazon being the 800-lb gorilla in the market, entrepreneur Mark Cuban believes he has the winning formula to compete with the e-commerce giant. Cuban launched his own Mark Cuban Cost Plus Drugs Co. earlier this year, competing in the same space as Amazon. Despite the overlap, Cuban told Kara Swisher his secret for success, according to GeekWire:
“I look at Amazon and say, their margin is my opportunity,” Cuban said.
Cuban expounded on what he meant when Swisher asked his opinion on Amazon’s plan to purchase One Medical for $3.9 billion.
“They’re a big company, and in health care, particularly with medications, it’s hard to be lean and mean,” Cuban said. “And that’s what we are.”
Amazon has a track record of dominating in the fields it enters, from e-commerce to cloud computing. That being said, if there’s anyone who can give the company a run for its money, it just may be Mark Cuban.