The Biden administration is actively pursuing measures to lower healthcare and prescription drug costs for Americans, with a focus on making healthcare more affordable and accessible. A significant step includes holding a White House listening session aimed at reforming Pharmacy Benefit Managers (PBMs) to address rising healthcare expenses, with Mark Cuban, founder of Cost-Plus Drugs, in attendance. Concurrently, the White House announced the formation of a health care costs task force with a budget of $10 billion. Additionally, the administration has taken bold steps to negotiate lower prescription drug prices for Medicare enrollees, with President Biden announcing that manufacturers of all ten selected drugs have agreed to participate in the negotiation program, aiming to reduce costs significantly. The Inflation Reduction Act has already resulted in savings of more than $28 million for 63,000 people across Delaware, highlighting the administration's efforts to deliver on healthcare affordability. PBMs are being scrutinized for their role in potentially hiking drug prices, with the administration and policymakers advocating for more direct negotiations to lower costs, potentially saving patients and payers more than $1,000 each year. In 2023, Big Pharma reported profits of $684 billion and spent $106 billion rewarding shareholders, further underscoring the need for legislative and administrative actions to curb excessive drug pricing.
Mark Cuban Continues Partisan Turn, Announces Support For Biden After White House Healthcare Event https://t.co/3RzPkB1vXn
A vote for Haley or Biden is a vote for the establishment. That is why Cuban voted for Haley. https://t.co/rBO0CJ4wTi
A vote for Haley or Biden is for the establishment. That is why Cuban voted for Haley. https://t.co/rBO0CJ4wTi
"Cuban told Bloomberg News he cast a ballot for Nikki Haley in the Texas GOP primary but would back Biden over the former president." https://t.co/vQQDYI1qOX
Mark Cuban is a clown. https://t.co/ymcGmTC6Qf
White House turns to health care in Biden’s latest move against ‘corporate greed’ https://t.co/fVSJOV6DFO
At today's Roundtable on PBMs, I shared stories @FTC has heard from patients, doctors, and pharmacists about how these middlemen may be hiking drug prices, limiting patients' access to certain medicines, and driving community pharmacists out of business. https://t.co/NLbMV5eB27
Mark Cuban Says He’d Vote For Biden Even If The President Was Dying https://t.co/1qPjXj7RQu https://t.co/hgWJA8vRSQ
BREAKING: Popular billionaire Mark Cuban gives a powerful endorsement of President Joe Biden for reelection in 2024 and uses the opportunity to brutally torch Donald Trump. Cuban is basically the anti-Elon Musk at this point... "If they were having his last wake, and it was him… https://t.co/JKP9FvGlWc
In 2023, Big Pharma raked in $684 billon in profits and spent $106 billion rewarding their shareholders. These exorbitant numbers are the reasons Democrats took on Big Pharma. Now, Medicare can start to negotiate lower drug prices and lower costs for lifesaving medications.
NEW Billionaire NBA owner Mark Cuban said he voted for Nikki Haley in the GOP primary in Texas but would vote for Biden over Trump in November: “If they were having his last wake, and it was him versus Trump, and he was being given last rites, I would still vote for Joe… https://t.co/rBQGbQXTvD
NBA owner Mark Cuban: I’d vote for this presidential candidate if ‘he was being given last rites’ https://t.co/UgsGcaZXXt
🚨BREAKING: Mark Cuban announces he'd vote for Biden over Trump. Thoughts? https://t.co/nb3YG8cQE4
As part of its battle to blunt the growing cost of medicines, the White House held a so-called listening session in hopes of finding ways to reign in big pharmacy benefit managers. https://t.co/7HMbkECs6D
When it comes to health care, @HouseDemocrats have worked with @POTUS to: ⬇️Cap Insulin costs at $35 per month 💊Empower Medicare to negotiate lower medication costs ❌Eliminate hidden medical junk fees
. @mcuban tells me he'd vote for Biden over Trump. “If they were having his last wake, and it was him versus Trump, and he was being given last rites, I would still vote for Joe Biden,” he said. He voted for Haley in the primary, too. https://t.co/VIry45jG6k
It’s not right for middlemen, a small few of whom control the vast majority of the market, to profit at the expense of Americans who can’t afford their prescription drugs. Today, the @WhiteHouse hosted a roundtable on cracking down on price gouging from Pharmacy Benefit Managers. https://t.co/1o7Zrt03jB
I am proud to announce that the manufacturers for all ten selected drugs will continue to participate in my program to allow Medicare to negotiate lower prices. We are delivering in spite of opposition from Big Pharma and MAGA Republicans.
His endorsement really helped Hillary Clinton in 2016…. not. @mcuban has become an insufferable clown. Trump and @elonmusk permanently broke his brain. https://t.co/D73eHOYkM9
LISTEN NOW: After attending a White House roundtable on health-care costs, Mark Cuban joins to talk about his company Cost Plus Drugs, regulating AI and more. Listen and follow the @CNBCOvertime podcast here: https://t.co/PhvVUfQoPP https://t.co/5ZvYD3uvkM
.@mcuban talks about Cost Plus Drugs, manufacturing, demand and more. https://t.co/Rbnbjd79Mr https://t.co/6Pf0fBut5P
BREAKING: President Biden has secured the backing of Mark Cuban. This is a major endorsement that displays the significant distrust people have in Donald Trump.
Mark Cuban backs Biden (not super enthusiastically): “If they were having his last wake, and it was him versus Trump, and he was being given last rites, I would still vote for Joe Biden" @josh_wingrove reports https://t.co/RJtG2rIrIz
The Biden Administration is working hard to deliver on the promise of the Inflation Reduction Act by negotiating lower prescription drug costs for seniors. Price negotiations will continue through the summer and the new lower prices will go into effect in 2026. https://t.co/CUI4mkz0Dx
Since entering Congress, lowering health care costs has been one of my top priorities. I’m proud to have voted for landmark laws to cap monthly insulin costs and lower out-of-pocket prescription drug expenses for millions of Americans. https://t.co/4ZDimCNnSc
Mark Cuban backs Joe Biden for president and wants him to do more to rein in drug costs https://t.co/hrnU0VHTNC
GREAT news in the ongoing fight for fair prescription drug pricing. In Congress, I’m working to expand lower drug costs, so all PA families can access the life-saving medications they need. https://t.co/iQ2oRLHRmx
FTC’s Lina Khan and Mark Cuban headline White House listening session to rail against PBMs https://t.co/qGxcgJGsQr
Drugmakers send counter offers for U.S. Medicare price negotiations, Biden says https://t.co/Q8r8298N7Z https://t.co/aYG5H5GnNx
FTC chair @linakhanFTC and @mcuban headline White House listening session to rail against PBMs - as @RonWyden laments that leg. reforms might have to wait for the lame duck session in December https://t.co/01lX1qUWjF
.@HouseDemocrats and the Biden-Harris administration continue to get things done for the American people. Lowering the cost of medication is good for your health and wallet. https://t.co/flyyhElsZw
Scoop: The White House is planning to roll out a new task force focused on easing health costs, per 3 ppl. The initiative involving DOJ, FTC and HHS officials is set to deal primarily with coordinating enforcement efforts. w @joshua_sisco @misswilson: https://t.co/QjMxi6dokG
*WHITE HOUSE TO ANNOUNCE HEALTH CARE COSTS TASK FORCE: POLITICO The task force will cost $10 billion
WHITE HOUSE TO ANNOUNCE HEALTH CARE COSTS TASK FORCE: POLITICO
Biden planning health care task force to combat rising prices https://t.co/bSf9Vc8s5R
CMS remains dedicated to improving access to drugs for people with #Medicare while encouraging competition and innovation. Receiving counteroffers is another negotiation milestone in lowering drug prices. Learn more: https://t.co/8NkyrThdJ6 https://t.co/Q0vN4syqoh
Reminder: Thanks to the Inflation Reduction Act, Medicare can now negotiate lower drug prices. And Democrats in Congress and the Biden-Harris Administration got it done. https://t.co/ftk6CxdkyD
The manufacturers of 10 high-cost drugs selected for the U.S. Medicare program's first-ever pricing negotiations have submitted counter offers to the U.S. government's initial proposal, U.S. President Joe Biden said on Monday. https://t.co/zCRpIZmgmP
Thoughtful commentary from the one and only Mark Cuban @mcuban on core problems with #PBM market from today's @WhiteHouse listening session. Worth watching! (Link starts at 49:47) https://t.co/zwpDH6LOld
Thoughtful commentary from the one and only Mark Cuban @mcuban on core problems with #PBM market from today's @WhiteHouse listening session. Worth watching! (Starts at 49:47) https://t.co/zwpDH6LOld
The White House on Monday ballyhooed a routine step in Medicare’s new program to negotiate the prices of prescription drugs. https://t.co/XNlwalcLFz
One thing is clear, @mcuban is showing that business can solve our healthcare problems.
Rather than take the bait from #BigPharma policymakers should hear directly from the #PBMs who are actually negotiating against #BigPharma to lower drug costs – saving patients and payers more than $1,000 each year. Read our full statement: https://t.co/eYIR1fRHTt
Medicare price negotiations are underway and lower prescription drug costs for American seniors are on the way 🥳 https://t.co/NDzULvrI2p
I called for Congressional action today to eliminate hidden and misleading junk fees and lower costs for American families. Consumers should be able to enjoy live music or plan a vacation without fear of hidden fees that can unexpectedly break the bank. https://t.co/eZilGyQFDO
Thanks to @POTUS and @HouseDemocrats, our neighbors will be able to put more money back into their pockets and live healthier lives. No one should have to choose between their groceries and life-saving medications, so Democrats delivered necessary solutions. https://t.co/MIVkuLjTBN
The Biden-Harris Administration is dedicated to making sure our health care system serves people, not corporations. Join me LIVE today at 12PM ET as we discuss lowering health care costs and bringing transparency to how prescription drugs are priced. https://t.co/mZNIUX1IWd
Drugmakers submit counteroffers as part of first round of drug price negotiations - https://t.co/qGMCb9ZOtm
Negotiations are under way to bring #Medicare more affordable prescription drugs. We are committed to working with participating drug companies to achieve savings for enrollees. https://t.co/pZqmorSxJ6 https://t.co/THBWz3Zaam
BIDEN: ONE STEP CLOSER TO BRINGING DOWN PRESCRIPTION DRUG COSTS
No one should have to decide between putting food on their table & paying for prescription medications. Thanks to the Inflation Reduction Act, more than 63,000 people across the First State are benefiting from lower out-of-pocket costs, saving Delawareans more than $28 million!
Since last year, our Administration has taken bold actions to crack down on junk fees and bring costs down for Americans. Let’s recap a few. ⬇️ https://t.co/E6f74PgY0f
Mark Cuban is coming to the White House tomorrow for an event on lowering drug prices, per WH spox (Cuban is a founder of Cost-Plus Drugs).
3 in 10 Americans reported skipping doses of their prescribed medications because of Big Pharma’s price gouging. Lowering prescription drug costs doesn’t just save the middle class money, it saves LIVES.
The White House will hold a listening session on reforming PBMs, as the Biden administration tries to address rising health care costs. https://t.co/A1wT9NPMxD