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Vice President Kamala Harris wants to lower drug prices, and billionaire investor Mark Cuban is all for it.
"Hey indie Pharmacies, did you notice this on @KamalaHarris policy page?" Cuban wrote in an X post on Tuesday.
The "Shark Tank" star then proceeded to quote part of Harris' policy position on drug prices in the same post. Cuban has been a vocal supporter of Harris ever since she took over as Democratic nominee from President Joe Biden.
Hey indie Pharmacies, did you notice this on @KamalaHarris policy page ?
— Mark Cuban (@mcuban) September 10, 2024
“she’ll keep fighting to bring down prescription drug costs by taking on pharmacy middlemen, who raise consumers’ prices for their own gain and squeeze independent pharmacies’ profits.”
On Sunday evening, the Harris campaign unveiled its policy platform on their website.
The wide-ranging platform cuts across multiple areas, ranging from abortion, crime, healthcare, housing, and national security.
"Just as she did as Vice President, she will take on Big Pharma to lower drug prices and cap insulin costs, not just for seniors but for all Americans," the Harris campaign wrote in a section on keeping drug prices affordable.
Cuban's support for such policies shouldn't come as a surprise considering the work he's done at Mark Cuban Cost Plus Drugs Co., a low-cost online pharmacy that he cofounded in 2022.
Unlike most of its competitors, Cost Plus Drugs lowers costs by getting its drugs directly from manufacturers and cutting out the pharmaceutical middleman and their extra costs.
Cuban's customers would pay a 15% markup to Cost Plus Drugs, as well as a fixed $5 labor charge for each medication and $5 for shipping.
"We are completely transparent, with the same price for anyone and everyone," Cuban told Business Insider's Hilary Brueck in a story published August.
"We believe that when all data is transparent, then the market becomes efficient. At that point, prices will drop significantly."
Cuban didn't immediately respond to a request for comment sent outside regular business hours.
