Mark Cuban, billionaire entrepreneur and CEO of Costplusdrugs.com, praised TrumpRx, a prescription drug platform launched by President Donald Trump, for its efforts in reducing the cost of certain medications for patients.

Cuban took to X on Wednesday to talk about the positive impact of the drug platform on healthcare costs.  

“Everyone wants me to rip on TrumpRx. Reality is, it's saving patients money on IVF and a few other drugs. A lot of money,” wrote the Shark Tank star.

He further praised the team behind TrumpRx, mentioning names like the Director of Medicare, Chris Klomp, Deputy National Coordinator at HHS, Mark Atalla, and Director of CMS Innovation Center, Abe Sutton.

“TrumpRx is just getting started,” he wrote.

Cuban’s post was a response to an article in NBC News that criticized TrumpRx, saying it isn’t “doing much” for the rising drug prices.

The entrepreneur said that TrumpRx appears focused on helping patients, emphasizing that it refused insurance industry price hikes that even hurt their stock prices.

Cuban was referring to the Trump administration’s proposed lower-than-expected Medicare insurer rates, which led to a significant drop in the stock prices of major health insurers like UnitedHealth Group Inc. (NYSE:UNH), Humana Inc. (NYSE:HUM), and CVS Health Corp. (NYSE:CVS).

Cuban Urges Patience on Drug Reform

TrumpRx was launched in February with the aim of providing consumers with access to more affordable prescription medications. The platform has managed to secure discounts on several drugs from various pharmaceutical companies such as  AstraZeneca PLC (NYSE:AZN), Eli Lilly And Co.  (NYSE:LLY), EMD Serono, Novo Nordisk (NYSE:NVO), Pfizer Inc. (NYSE:PFE),  Amgen Inc. (NASDAQ:AMGN) and more.

This isn’t the first time Cuban has defended the platform, despite his initial doubts. Earlier this month, in an interview with Margaret Hoover from PBS News, he called for patience and urged support for efforts to expand access to affordable medications.

“Give them a chance,” Cuban said. “Anything that opens the door for lower price medications I'm a fan of.”

The billionaire has been a vocal critic of rising drug prices and has slammed the insurance companies for their unfair practices. He even urged  Berkshire Hathaway Inc. (NYSE:BRK) to reconsider its healthcare insurance investments to bring about a larger change in the industry.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by a Benzinga editor.

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