Cost Plus Drugs CEO Mark Cuban

The push to rein in pharmacy benefit managers moved from the Capitol Hill to the White House on Monday. Billionaire entrepreneur Mark Cuban and Democratic Kentucky Gov. Andy Beshear joined FTC Chair Lina Khan in calling for reform.

"I genuinely believe that CEOs do not understand how their health-care costs work, particularly as it applies to the rebates they receive from their PBMs," Cuban said. "They tend to look at rebates as cash paid by the drug manufacturers. Nothing could be further from the truth. The reality is that the rebates are not paid for by the drug manufacturers. The rebates are paid for by these companies' sickest and oldest employees."

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