Immediately after President Trump's victory on November 5, businessman Mark Cuban deleted All posts by his parent Kamala Harris are posted on X (formerly Twitter). Former top campaign agent To make. But what he can't remove is his track record of using Harris to try to regulate his company's competition. In fact, he is escalating his anti-free market strategy.
Cuban I participated Late last month, during a fireside chat at the University of Pennsylvania, the government announced that it would regulate pharmacy benefit managers, the companies that small and medium-sized businesses contract with big drug companies to negotiate lower drug prices. I explained why I wanted it.
Mark Cuban should follow the lead of the rest of Wall Street, cut his losses and move on.
Kamala Harris' willingness to fight them seems to have factored quite a bit into his decision to support her as actively as he does. shortly thereafter the cuban people spoke When I asked Harris about PBMs, her campaign laid out a plan to oppose them. Then Cuba started Campaign For Democratic candidates in the battleground states of Arizona, Michigan and Wisconsin.
But PBMs shouldn't be regulated or demonized. If it gets too bad, companies won't voluntarily pay to lower the cost of prescription drugs. They keep hiring PBMs. Because they can make things more affordable. decline For example, Medicare Part D spending would increase by 20%.
The real price gougers are not PBMs. Pharmaceutical companies are person in charge Sixty-five percent of the total prescription price is 65 percent of the prescription list price, and our relationships with decision makers in Washington have allowed us to raise prices above free market levels. Mark Cuban's company, Cost Plus Drugs, negotiates drug prices like PBMs, so he would benefit if the government reined in PBMs. In other words, he parrots Issues for major pharmaceutical companies As for who to blame, since the anti-free market consequences will help him personally.
That's the problem with Cuba. He relies on political maneuvering rather than free market ingenuity to succeed.
Although he is sharp made They invested a lot of money into the dot-com business in the early days of the Internet, and more recently. Accrued net loss For all his “Shark Tank” dealings. Working with Harris and other government officials to purge PBMs from the market will surely give Cost Plus Drugs a better future than his Shark Tank investment, but what? It would cost millions of Americans affordable medicine.
That makes me anxious, According to To the American Hospital Association:
Nearly 30% of Americans say they don't take their medications as prescribed because of high drug prices, and among Medicare patients alone, more than 1.1 million people will lose their prescriptions over the next 10 years because they can't afford to pay for them. It is estimated that there is a possibility of death.
If Cuban wants to erase his support for Harris from the internet, congratulate President Trump and move on, that's fine, but for his failed attempt to push self-serving regulations into the White House. However, you should do the same. Instead, he is stepping up his efforts, which is in no one's interest but his own.
Trump has no intention of repeating Harris' mistake. his inner circle He knows what is at stake if Cuba achieves its political agenda and will not let it happen. Congress won't either. Trump supporters like the senators, although some are pushing anti-PBM legislation before the end of the session. Ted Cruz (R-Texas) and rand paul (R-Ky.) is ready to stop them.
Pharmaceutical company stocks are dropped This shows that many investors already know this cold, hard truth.
Mark Cuban should follow the lead of the rest of Wall Street, cut his losses, and move on, rather than continue his self-serving regulatory push. Perhaps even a focus on true free market competition rather than legislative bullying. That would be better for all of us.
