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- Mark Cuban gave Trump's new drugstore venture a "B," and said it would be good for patients.TrumpRx.gov aims to sell drugs directly to consumers, bypassing Pharmacy Benefit Managers.Cuban questioned whether Trump's venture could make a material difference in changing PBMs.
Mark Cuban is giving President Donald Trump's new direct-to-consumer online drug store venture a "B" — for now.
Trump announced on Tuesday that he plans to launch a government-run website, called TrumpRx.gov, for consumers to buy prescription drugs directly from manufacturers on the site without the involvement of Pharmacy Benefit Managers as intermediaries. According to NPR, the administration expects to release the website in 2026.
Cuban, the billionaire venture capitalist, commented on X that this would be good for patients and could actually boost business for his Cost Plus Drugs, which runs on a similar model. He said that the administration has "some great people working on this project," but he would "give the program, and what we know, as of today, a grade of B."
"Why not an A? The stock prices of PBMs didn't get crushed," wrote Cuban. "Which means, so far, no one expects much change for them. Which they expect they will make up lost revenues from patients, companies, and other payers elsewhere."
"It's still rigged to benefit the big PBMs," Cuban added in response to a post asking if Trump's operation could run honestly without favor. "That said, it has a chance if they force PBMs to change. If that happens, Trump gets all the credit and it will be deserved."
In an email to Business Insider, Cuban said of TrumpRx.gov, "it's just a listing site.. And as long as they include Cost Plus Drugs, given we typically have the lowest prices for more than 90% of prescriptions, I'm all for it!"
As part of the announcement, the White House said that Pfizer plans to offer some of its drugs on TrumpRx.gov and all of its drugs for Medicaid at a reduced rate. The deal grants the pharmaceutical manufacturer a three-year exemption from tariffs.
" The large majority of the Company's primary care treatments and some select specialty brands will be offered at savings that will range as high as 85% and on average 50%," the company said in a press release.
Cuban's online pharmacy, which he founded alongside radiologist Alex Oshmyansky in 2022, Cost Plus Drugs, also eliminates intermediaries and offers drugs at a 15% markup above the manufacturer's wholesale price.
According to Data from the Commonwealth Fund, around 80% of access to drugs in the US is controlled by three large PBMs, namely the UnitedHealth Group-owned Optum Rx, CVS Health's Caremark, and Cigna's Express Scripts. Stock prices for all three parent companies did not substantially change throughout Tuesday.
PBMs receive rebates from drug manufacturers in exchange for giving drugs favorable placement on formularies. Rebates are often tied to the list price, therefore, higher-priced drugs can generate larger rebates. That creates an incentive for PBMs to favor certain brand-name drugs over cheaper generics or biosimilars if the manufacturer offers a bigger rebate. Insurers say these rebates help lower overall costs. Critics argue the system inflates prices and contributes to higher insurance premiums for patients.
The White House did not immediately respond to a request for comments.
