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Mark Cuban (Mark Cuban) testifies on Pharmacy Benefit Managers (PBMs) before the Senate Full video here:

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CSPAN

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1,345,042 views • 10 months ago •via X (Twitter)

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Mark Cuban laid into pharmacy benefit managers at the White House today. Three PBMs, middlemen owned by giant healthcare firms like CVS and UnitedHealth, dominate how drugs are priced. And they’re price gouging essential drugs at the expense of patients in need. Mark Cuban
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Mark Cuban laid into pharmacy benefit managers at the White House today. Three PBMs, middlemen owned by giant healthcare firms like CVS and UnitedHealth, dominate how drugs are priced. And they’re price gouging essential drugs at the expense of patients in need. Mark Cuban

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Mark Cuban: Drugmakers are more afraid of Pharmacy Benefit Managers than they are of Trump "and it's not even close." "They really don't care what the president says or does," he tells our Alex Burns. "They're terrified of the big PBMs."
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Mark Cuban: Drugmakers are more afraid of Pharmacy Benefit Managers than they are of Trump "and it's not even close." "They really don't care what the president says or does," he tells our Alex Burns. "They're terrified of the big PBMs."

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🚨🇺🇸 MARK CUBAN EXPOSES PBM SCAM COSTING PATIENTS BILLIONS BEFORE SENATE Mark Cuban just testified before the Senate explaining how Pharmacy Benefit Managers are a bigger monopoly than Amazon, controlling drug access for 270 million Americans while driving prices up, not down: "PBMs auction off access to their formularies to the highest bidders. Drug companies pay rebates and fees so their drugs can be covered. The higher the list price, the more money PBMs make." A $600 drug costs the manufacturer $240 after rebates. Uninsured patients pay $600. Insured patients with deductibles also pay $600. The PBM pockets the difference. Cuban's solution: count cash payments toward deductibles, base out-of-pocket costs on net price, separate formularies from PBMs, and end specialty tiers. The U.S. is the only country using PBMs. That's why we have the world's highest drug prices. Source: CSPAN, Mark Cuban
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🚨🇺🇸 MARK CUBAN EXPOSES PBM SCAM COSTING PATIENTS BILLIONS BEFORE SENATE Mark Cuban just testified before the Senate explaining how Pharmacy Benefit Managers are a bigger monopoly than Amazon, controlling drug access for 270 million Americans while driving prices up, not down: "PBMs auction off access to their formularies to the highest bidders. Drug companies pay rebates and fees so their drugs can be covered. The higher the list price, the more money PBMs make." A $600 drug costs the manufacturer $240 after rebates. Uninsured patients pay $600. Insured patients with deductibles also pay $600. The PBM pockets the difference. Cuban's solution: count cash payments toward deductibles, base out-of-pocket costs on net price, separate formularies from PBMs, and end specialty tiers. The U.S. is the only country using PBMs. That's why we have the world's highest drug prices. Source: CSPAN, Mark Cuban

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Mark Cuban (Mark Cuban): "The biggest pharmaceutical manufacturers, brand manufacturers in this country are more afraid of the the PBM/insurance companies than they are of president and it's not even close."
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Mark Cuban (Mark Cuban): "The biggest pharmaceutical manufacturers, brand manufacturers in this country are more afraid of the the PBM/insurance companies than they are of president and it's not even close."

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