From Yahoo Finance: 2025-06-21 14:01:00

Billionaire Mark Cuban and Sen. Elizabeth Warren clashed over the U.S. healthcare system, focusing on rising drug prices due to Pharmacy Benefit Managers (PBMs) and tax practices of Big Pharma.

Cuban, founder of Cost Plus Drugs, corrected Warren’s blame on Big Pharma for high drug prices, pointing to PBMs as the real culprits manipulating prices for profit.

Warren accused major pharmaceutical companies like Johnson & Johnson and Pfizer of exploiting tax loopholes to shield billions in profits, urging action against a “rigged tax system.”

Cuban criticized the healthcare system, blaming big insurance companies and PBMs for complicating and controlling costs and access to care.

Stocks like CVS Health Corp. and Cigna Group, as well as pharmaceutical sector ETFs, showed varied performances over the year, with some experiencing negative returns amidst the ongoing debate over healthcare reform.



Read more at Yahoo Finance: Mark Cuban Corrects Elizabeth Warren As She Slams JNJ, PFE For Higher Prices And Zero Taxes On Big Pharma: ‘PBMs Corrupt Healthcare’