In the 2024 presidential campaign, Mark Cuban, a famous supporter of Kamala Harris and a vocalist of Donald Trump, is praising the president’s administrative order to suppress prescription costs.
In the previous post on Twitter’s X, Cuba explained the bill as “potential game change,” and assumes that he can save tens of billions of dollars by suppressing the power of the pharmacy benefit manager (PBMS), a broker of the pharmacy supply.
Why is it important
This praise shows a sharp change for Cubanians who have spent most of the 2024 election cycle of criticizing Trump and billionaire’s patron, Elon Musk.
But the prescription costs are high. In 2022, Cuba’s personal temple, which began his company’s cost + drug, has long dealt with prices that have long been directly transparent to consumers.
The online pharmacy, which was released in 2022, sells more than 2,500 drugs with transparent prices and fixed 15 % markups.
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I need to know
Cuba’s support for Trump’s order is the center of reforming how the drug formula is managed and increasing access to price data. He criticized the rebate -centered model used by PBMS, saying that the price is charged while collecting an independent pharmacy.
Dallas Mavericks owners wrote a long post for X. He wrote a long post about X before summarizing six specific reforms that believes to change the pharmaceutical system.
Cuba said, “Put it in the coach! I’m here to help.
The Cuban people have listed some reforms aimed at lowering drug prices and procuring PBM’s authority. It also required to share claim data with employers, state and pharmaceuticals.
He finished the expansion of the so -called special pharmaceuticals and forced the independent pharmacy to be completely repaid.
The Cuban also wants to remove confidential clause that employers cannot directly negotiate with pharmaceutical manufacturers. He also urged PBM to prohibit cheaper drugs to be more expensive and replace their own brand alternatives.
He pointed out that pharmaceutical companies pay 5 % to 10 % of drug retail prices to access the current required data. He claimed that the data could be greatly reduced by allowing them to use the data freely.
What people say
Arkansas Governor Sarah Huckabee Sanders signed a law that PBM prohibits or operates pharmacies: “For too long, a drug broker named PBMS has used the LAX regulations to abuse customers, expand the price of medicines, and block access to important drugs. No longer.”
White House in Tuesday statement: “President Trump is conveying a promise to invest in US patients once again by building a historical effort to lower the prescription drug price.”
What happens next time
The administrative order signed on Tuesday instructs the Ministry of Health and Welfare to take action to significantly reduce the price of Americans. According to the White House Fact Sheet, the guideline aims to dismantle the opacity pricing structure and control the system with “more competitive, transparent, efficient and flexible prescription value chain.”
