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A heated debate over the U.S. healthcare system erupted on X, pitting billionaire entrepreneur Mark Cuban in opposition to Sen. Elizabeth Warren (D-Mass) over the basis causes of hovering drug costs.
What Occurred: The conflict, unfolding as of Friday, has reignited discussions on Pharmacy Profit Managers (PBMs) and Massive Pharma’s tax practices, with the Senate poised to handle reform amid rising public scrutiny.
Enter Cuban, the Dallas Mavericks proprietor and founding father of Price Plus Medication, who fired again with a pointed correction.
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In a submit quoting Warren, Cuban argued that PBMs—not Massive Pharma—are the true culprits behind inflated drug costs.
“PBMs corrupt healthcare,” he wrote, explaining that these intermediaries management formularies and manipulate costs to maximise rebate income, with three main PBMs negotiating over 90% of rebates for business insurance policy.
Warren, in her submit, had blamed pharmaceutical giants like Johnson & Johnson (NYSE:JNJ) and Pfizer Inc. (NYSE:PFE) for charging Individuals the “highest drug costs on the earth” whereas paying “zero {dollars} in federal taxes.”
Citing information from her Senate Finance Committee function, Warren highlighted how these firms, alongside AbbVie Inc. (NYSE:ABBV), Amgen Inc. (NASDAQ:AMGN), and Merck & Co Inc. (NYSE:MRK), have exploited tax loopholes from the 2017 Tax Cuts and Jobs Act to defend billions in earnings.
“Republicans wish to make it worse. I’m combating again,” she declared, sharing a CNBC headline and urging motion in opposition to what she calls a “rigged tax system.”
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Why It Issues: Cuban has been a critic of the healthcare system, saying that it needs to be easy. In response to him, it’s grow to be overly sophisticated by massive insurance coverage firms and PBMs.
