Billionaire entrepreneur Mark Cuban offered rare praise for the Trump administration’s push to lower prescription drug costs, calling its TrumpRx initiative “a good start,” while still acknowledging its limitations.
It’s Not Going To ‘Change The Game’
“I’m not saying I’m a Donald Trump fan now, but credit where credit is due,” Cuban said during an interview with CNBC at the Health USA conference in Las Vegas. “They are trying their best to reduce the cost of prescriptions and of healthcare and of insurance.”
Cuban, who founded Cost Plus Drugs to bring down the prices of prescription medications, said that his company is directly working with the TrumpRx platform.
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“We gave them our API… they’re going to be a referral site. We’re feeding them daily updates,” he said, adding that growing volumes will allow Cost Plus to lower prices further and expand access.
While supportive of President Donald Trump’s intentions, Cuban was dismissive of the program’s impact. “What they’re doing with Trump RX will help,” Cuban said, “but it’s just superficial.” He emphasized that while the initiative shows promise, it’s not yet the kind of transformative solution that will “change the game and change everybody’s lives.”
Trump Admin Engages With Pharmacies And GoodRx
The Trump administration has begun working with platforms such as GoodRx Holdings Inc. (NASDAQ:GDRX), alongside other pharmacy chains to support its TrumpRx website. While its real-world value remains unclear so far, the website is set to launch next year.
Recently, Pfizer Inc. (NYSE:PFE) announced an agreement with the administration aimed at ensuring that American patients pay lower prices for the company’s drugs.
According to the White House, more than 100 million patients dealing with a wide range of conditions and who use Pfizer’s medications are set to benefit from the move.
Pfizer shares were up 0.71% on Monday, closing at $24.69. The stock is up 0.20% in overnight trade. The stock does poorly in Benzinga’s Edge Stock Rankings, with low scores across the board, and an unfavorable price trend in the short, medium and long terms. Click here for deeper insights into the stock, its peers and competitors.
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