Billionaire Mark Cuban was back in the Pittsburgh area on Wednesday afternoon, as he announced a new partnership with Giant Eagle to crack down on the price of prescription drugs.

Cuban's latest business venture focuses on slashing drug prices through his Cost Plus Drugs company. On Wednesday afternoon, the Mt. Lebanon native joined Giant Eagle CEO Bill Artman in announcing the new partnership. 

The goal is to get rid of hidden fees and pharmacy benefit managers by negotiating prescription prices directly with drug manufacturers.

"Unlike a lot of the industry, where they'll mark it up to as much as they can charge, our markup is only 15%, which means our prices are a lot lower than people are used to getting," Cuban said on Wednesday.

Giant Eagle says the partnership will extend the reach of the Cost Plus Drugs program to customers across the footprint of the regional grocery chain, which currently spans five states. 

The Cost Plus Drugs program currently works with a number of independent pharmacy chains in the Pittsburgh area, but the partnership with Giant Eagle represents the company's first major expansion into the region. 

"Giant Eagle is Pittsburgh, and Pittsburgh's Giant Eagle," Cuban said.

The arrangement comes after Giant Eagle recently took on thousands of new customers from Rite Aid locations that closed their doors.

"Appreciate everybody's patience as we work through this, with onboarding new team members as well as signing up new patients, but it's going really well," Artman said.

Under the new partnership, Giant Eagle joins a host of other supermarket chains, including Kroger and Albertsons, that work with the Cost Plus Drugs program.

How does it work?

All you need is a Team Cuban Card printed out or on your phone, and show it to the pharmacist at a Giant Eagle pharmacy. Just know that not all drugs are eligible, and the card does not replace insurance. 

An online tool allows you to locate the nearest pharmacy that accepts the Team Cuban Card. 

"We're all about trying to make it as easy as convenient as possible," Artman said.

"When it's all said and done, you know if we had an impact on the health care industry and changed things, to me, that's the best reward," Cuban said.