Dec 11, 2024

In case you missed it, a recent piece published in the Blaze Media from Elijah Henry, a conservative political commentator, calls out billionaire Mark Cuban for his attempt to run from his full-throated support for Kamala Harris and her anti-market, big government agenda during the 2024 election:


“Promptly after President Trump’s November 5 victory, business mogul Mark Cuban deleted all his pro-Kamala Harris posts on X (formerly Twitter) — an odd move for a former top campaign surrogate to make. What he cannot delete, however, is his track record of trying to use Harris to regulate his company’s competition away. In fact, he’s escalating his anti-free-market strategy.”

Cuban’s support for the Harris agenda came with plenty of self-interest since the left-swing billionaire has his own drug distribution company, Cost Plus Drugs, that competes with PBMs, making these policies a direct hit to a would-be competitor:

“Cuban participated late last month in a fireside chat at the University of Pennsylvania to explain why he wants the government to regulate pharmacy benefit managers, the companies that businesses (small and large) contract with to negotiate lower drug purchase price costs with Big Pharma.

“Kamala Harris’ willingness to take them on appears to have factored considerably into his decision to support her as aggressively as he did. Soon after Cuban talked to Harris about PBMs, her campaign came out with a plan against them. Cuban then began stumping for the Democratic candidate in the battleground states of Arizona, Michigan, and Wisconsin.”

The beneficial relationship has resulted in praises shared by both parties. In an interview with the Washington Reporter, Cuban said, Kamala is who I think is best for the country.” In return Harris praised her ally Cuban, posting on X: “Mark Cuban knows what it takes to start and grow a business.”

Henry unveiled the real cause of high drug prices and the self-serving agenda against Cuban’s attacks against PBMs:

“The true price gougers aren’t PBMs. Drug companies … and their relationships with Washington decision-makers have enabled them to raise prices above free-market levels. Mark Cuban’s company, Cost Plus Drugs, also negotiates drug prices as PBMs do, so he would benefit if the government squelches PBMs. In other words, he parrots Big Pharma’s talking points on who to blame because an anti-free-market outcome would help him personally.”

Big Pharma companies and companies like Cost Plus Drugs stand to gain when PBMs are weakened. That’s why Big Pharma is pushing a $10 billion profit scheme called “delinking” that would hike health care premiums for seniors by $13 billion in the Medicare Part D program. There is no concern for the welfare of seniors or taxpayers, just companies watching out for their bottom line.

Luckily, Henry asserts that the Trump Administration would not sing the same tune as the Harris campaign and attack free market forces:

“Trump won’t repeat Harris’ mistake. His inner circle knows what’s at stake if Cuban achieves his political agenda and won’t let it happen. Neither will Congress. Although some lawmakers are pushing anti-PBM regulatory bills before the session ends, Trump loyalists like Sens. Ted Cruz (R-Texas) and Rand Paul (R-Ky.) are prepared to block them.

“Pharma’s stock shares have dropped precipitously since Trump’s re-election, signaling that many investors already know this cold, hard truth.

“Rather than continuing with his self-serving regulatory push, Mark Cuban should follow the rest of Wall Street’s lead, cut his losses, and move on. Maybe even focus on genuine free-market competition rather than legislative bullying. It would be better for all of us.”

Let’s hope conservatives take note and reject the Big Pharma-Big Government scheme to undermine free market forces in our health care system.

Read the full op-ed HERE.