Heavy machinery chipped away at a Deep Ellum warehouse Friday morning. It’s symbolic of what a new company in that location will be doing.
It will be a new manufacturing laboratory for the Mark Cuban Cost Plus Drug Company.
Its goal is to produce low-cost versions of high-cost generic drugs.
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"There are so many products that cost hundreds of dollars, thousands of dollars for a single dose of medication,” Mark Cuban Cost Plus Drug Company founder and CEO Alex Osmyansky said. “This facility should be able to do most of those products for $10 a dose."
Along with fighting the cost of prescription drugs the facility brings a new perspective to Deep Ellum which is often known for its entertainment aspect.
"The neighborhood has long been a launching pad for innovative and creative business ventures and entrepreneurial pursuits,” Deep Ellum Foundation Marketing Manager Micah Bires said. “This is just the next in a long line of those sorts of businesses to enter the neighborhood and break ground in all sorts of fields."
About 80 jobs will be created during construction.
Once the facility is running it should employ 60 to 80 people at a time when jobs are needed.
The facility is scheduled to be complete in spring 2022.
This is their pilot program with hopes to expand and offer over 100 different drugs by the end of 2021.