Mark Cuban Supports Trump Executive Order Targeting PBMs To Lower US Drug Prices

Billionaire entrepreneur Mark Cuban has become a vocal critic of the U.S. healthcare system, focusing on the role of Pharmacy Benefit Managers (PBMs) as key drivers of high prescription drug prices. Cuban's interest in healthcare grew after Republican friends asked him about replacing Obamacare, leading him to cofound Cost Plus Drugs, an online pharmacy that cuts costs by sourcing directly from manufacturers and eliminating middlemen. Following President Trump's executive order aimed at lowering drug prices, Cuban highlighted that PBMs, not pharmaceutical manufacturers, are largely responsible for inflated drug costs due to their opaque pricing practices and dominance in the market. Pharmacists and industry experts agree that PBMs increase prices artificially through rebates and spread pricing, often charging much more than the actual drug costs and limiting transparency. Cuban has challenged political figures such as Bill Ackman and Charlie Kirk to recognize PBMs' impact and urged companies to demand clarity from their PBMs on drug pricing and claims. While Trump's order has been welcomed as a step toward reducing drug prices, experts caution that meaningful change may take years, and addressing PBM practices is crucial to achieving significant cost reductions.