In a surprise move, Mark Cuban last week announced plans to enter the generic drug business with a new company bearing his name. The famed investor – known widely for his appearances on Shark Tank – has actually been eyeing the pharmaceutical world for a while. Two years ago, Cuban decided to work with Alex Oshmyansky to sell low-cost medicines. A radiologist by training, Oshmyansky had already started a company with a similar goal but reached out to Cuban to jumpstart the idea. “He is super smart. Knows the technology, knows the industry and works his ass off,” Cuban wrote us in explaining why he got involved. We spoke with Oshmyansky about his plans for getting the Mark Cuban Cost Plus Drug Company off the ground. This is an edited version of our conversation.
Let’s talk about you and your background. You’re a physician, but before you got involved with Mark Cuban, you had started a company called OSH Pharmaceuticals. Why?