It doesn't cut out any middlemen. It adds one middleman - Mark Cuban. Literally all he is doing is buying wholesale and selling retail with a markup. He's even powered by an existing online pharmacy company (truepill).

If you look up details about his factory it's supposed to be built sometime next year. On Google maps, looking at the address, I wasn't able to see any evidence of this place existing. It's also supposed to employ 60-80 people, which, seems small to take on drug manufacturing.