Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Street
The Street
Jeffrey Quiggle

Shark Tank's Mark Cuban speaks out on weight-loss drugs

It's no stretch of the imagination to suggest that losing weight and striving for better health is frequently on the minds of many people.

And one specific recent development on this concern has captured attention and is already changing lives.

Related: Mark Cuban has compelling words about Ozempic and Cost Plus Drugs

Medicines called GLP-1 agonists, designed to fight diabetes, have been found to cause people to experience weight loss.

Ozempic, a drug manufactured by Novo Nordisk  (NVO) , is one. The Denmark-based company also makes Wegovy, which is approved by the U.S. Food and Drug Administration (FDA) for weight loss specifically.

Also, Eli Lilly  (LLY)  is distributing Mounjaro (for diabetes) and Zepbound (to battle obesity). Both are FDA-approved drugs.

People who use these medicines are speaking out. Recently, a software professional in Redmond, Wash. told TheStreet that her experience with Ozempic was "life-changing." 

In an email conversation with Mark Cuban, co-founder of Cost Plus Drugs, TheStreet found that the Dallas Mavericks owner and Shark Tank investor had some insight on his own efforts to help distribute these medicines.

He also had some encouraging words about Eli Lilly's new approach for serving patients in general.

Mark Cuban says Cost Plus Drugs is interested

After following up with Cuban on TheStreet's coverage of diabetes and weight-loss medicines, he gave an update on his company's progress.

"We are talking to manufacturers about GLP-1s that we can sell through costplusdrugs.com," he explained in an email. "But we aren't there yet."

Then Cuban offered a question and a statement for TheStreet about Eli Lilly.

"Have you dug into LillyDirect?" Cuban asked. "I think they are doing it right and might be a template for others."

"I just think it's a template for manufacturers to better serve patients," he added.

So TheStreet contacted Eli Lilly to find out what the pharmaceutical company had to say in response.

The Eli Lilly logo is seen on a cell phone. Mark Cuban said LillyDirect has a solution for medicines that might be a template for others.

Rafael Henrique/SOPA Images/LightRocket via Getty Images

Eli Lilly explains its end-to end digital health care experience

A spokesperson for Eli Lilly declined to comment specifically on Cuban's comments. It directed TheStreet to a statement it had made when it announced LillyDirect in January.

The company indicated that for patients living with obesity, migraine and diabetes, it was offering direct services.

"LillyDirect Pharmacy Solutions gives patients a simple option to get consistent access to Lilly medicines they have been prescribed with the added convenience of home delivery," the statement said. "By obtaining medicines directly from Lilly, patients can easily access Lilly's affordability solutions and savings card opportunities are automatically applied for patients who qualify. Medicines fulfilled by pharmacy service providers through LillyDirect Pharmacy Solutions ship free of charge."

The statement added that Eli Lilly was offering disease state and health care educational information to help empower and support patients on their health care journeys.

It also said it has access to independent telehealth providers to complement a patient's current primary care team or be an alternative to in-person care for certain conditions.

"We know that people have come to depend on the efficiency and convenience of digital solutions to meet a variety of their everyday needs — healthcare being one of them," said Frank Cunningham, group vice president, global value and access at Lilly. "We launched LillyDirect with the hope that it will offer patients an innovative end-to-end experience to manage their health and access their medicines, so they can get back to living their lives."

TheStreet will continue to cover these developments.

Related: Veteran fund manager picks favorite stocks for 2024

Contact Jeffrey Quiggle about your own personal stories with weight-loss drugs via email at jeffrey.quiggle@thearenagroup.net.

The author of this story owns shares of Novo Nordisk.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.