President Donald Trump announced a new prescription drug deal with Regeneron in the Oval Office on Thursday and name-checked entrepreneur Mark Cuban as a surprise backer of his efforts to put caps on drug prices.

Trump began by using some of his regular rhetoric on the topic, claiming that Americans pay for “by far, prices that were many, many times what the rest of the world was paying, because we had a president that didn’t know what they were doing, or they weren’t able to get other countries to agree to it.”

“I was able to do that because I used tariffs. I said, if you don’t agree to it, we’re going to put tariffs on your country. And they said that we would be honored to do it, sir. I’m telling everybody now, including me. But they agreed to do it. The United States is just 4% of the world’s population of consumers, only 13% of all prescription drugs. Yet pharmaceutical companies have been making 75% of their profits from American customers,” Trump claimed as he boasted of his direct-to-consumer TrumpRx program.

He continued by offering some details on the Regeneron deal, saying, “Additionally, they’ll also offer their current drug — and I’m proud of you — which lowers cholesterol and fights heart disease, to all consumers at a dramatically lower cost. It will come down from $537 to $225, to be available at TrumpRx.gov. I didn’t put the name — Bobby did — and Austin. It’s true, actually. I remember I came in and I said, what’s this, you know, it will be better. So, better — would you help us.”

“So I now have my name on medication, but it’s doing great. I hear it’s setting records, actually. I was watching the other day, and Mark Cuban, of all people, said it’s amazing what Trump has done with this. I can’t believe — when I heard him say that, I was sort of in a state of shock. But others have said it too. This whole thing has turned out to be hot. So that’s TrumpRx.gov,” added the president.

Cuba, who campaigned for Vice President Kamala Harris in 2024, has long worked to disrupt the prescription drug market and told Fox News earlier in the week he is working closely with the Trump administration on the issue.

“We’re working really close with TrumpRx,” Cuban told Fox & Friends. Cuban invested in the direct-to-consumer CostPlusDrugs.com and added, “We’re going to be integrating our list of medications there. We’re looking to bring manufacturing from overseas for generics to Dallas, so there’s so many things we’re doing with the administration that I think will really accelerate [cost reduction].”

Watch the clip above via Fox News.

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