Mark Cuban Says This Trump Healthcare Order 'Could Save Hundreds Of Billions'

Billionaire entrepreneur Mark Cuban has expressed support for President Donald Trump‘s 2025 healthcare executive order, emphasizing its potential to reform the role of Pharmacy Benefit Managers (PBMs) in the U.S. healthcare system.

What Happened: In a post on X, addressed to President Trump on Wednesday, Cuban cheered the order that aims to reform PBMs, entities that control 80% of U.S. prescriptions. He emphasized the potential of the order to save billions and improve patient wellness.

Cuban’s proposals include separating formularies from PBMs to focus on wellness, mandating transparency in claims data to improve patient outcomes, and eliminating specialty drug tiers that inflate costs. He also urged action on issues such as the 340B program's double-dipping, which a 2023 study estimated to cost hospitals $500 million each year.

“Make them about wellness, not pay for play like a grocery store endcap. This ends rebates and allows for net pricing. It also allows for better care and wellness,” stated the Shark Tank celebrity.

Gotta be honest. The @realDonaldTrump EO on healthcare and in particular, drug pricing could save hundreds of billions.

Here is how:
1. Divorce formularies from PBMs. Require them to come from independent organizations with no economic incentive from the formulary
Make them…
— Mark Cuban (@mcuban) April 16, 2025

Cuban, the founder of Cost Plus Drug Company, also criticized PBM tactics like biosimilar substitution calls, where they push doctors to prescribe pricier drugs for higher margins, a practice enabled by vertical integration. He referenced the 1990s FTC concerns when pharmaceutical companies acquired PBMs, leading to mandated open formularies.

Why It Matters: Trump’s executive order comes as part of a broader effort to lower drug prices and reduce Medicare costs. The administration is set to negotiate prices for a second batch of 15 medications, including Novo Nordisk's NVO blockbuster diabetes and weight-loss drugs Ozempic and Wegovy, along with Pfizer's PFE cancer treatments Ibrance and Xtandi

Additionally, the Trump administration has disclosed plans for a "major tariff" on foreign pharmaceuticals. This move could potentially impact the pharmaceutical industry, with the U.S. Department of Commerce launching an investigation into the potential national security risks posed by the country's reliance on imported pharmaceuticals and key drug ingredients.

Meanwhile, Cuban, an outspoken critic of the Trump administration, has always pushed for affordable and universal healthcare. He has consistently pointed out the shortcomings of the U.S. healthcare system, which is further complicated by large insurance companies and pharmacy benefit managers.