According to Mark Cuban on Twitter, pharmacy benefit managers (PBMs) manipulate drug prices by controlling formularies and maximizing rebate revenue, restricting Big Pharma from setting their own pricing. Cuban states that three major PBMs negotiate the majority of drug prices, impacting the entire pharmaceutical supply chain (source: Mark Cuban Twitter, June 19, 2025). For traders, this concentration of PBM power creates pricing pressure on pharma stocks and may trigger increased regulatory scrutiny, which could affect pharma sector equities and related healthcare ETFs. Crypto investors should monitor the potential for regulatory spillover, as similar market structure debates could influence tokenized healthcare projects and DeFi protocols focusing on medical data or pharmaceutical payments.