Drugmakers Plan Fresh Price Hikes On 350 Medicines In 2026
Drugmakers are reportedly preparing to raise U.S. prices on at least 350 branded medicines in 2026, including vaccines for COVID-19, RSV, and shingles, as well as major cancer therapies, despite pressure from the Trump administration to rein in costs.
Citing data provided exclusively by healthcare research firm 3 Axis Advisors, Reuters reported that the number of planned price increases is already higher than at the same point last year, when companies had flagged hikes on more than 250 drugs.
The median increase planned for 2026 is about 4%, roughly in line with increases seen for 2025.
Also Read: Judge Halts US Drug Discount Overhaul, Blocks 340B Rebate Plan
Reuters stated that the data reflect list price changes and do not account for rebates paid to pharmacy benefit managers or other behind-the-scenes discounts that can lower net prices for insurers.
Limited Price Cuts Planned
At the same time, drugmakers plan to cut list prices on a small number of products. About nine drugs are slated for reductions, including a cut of more than 40% for Boehringer Ingelheim's diabetes drug Jardiance and three related treatments.
Jardiance is among the 10 drugs for which the U.S. government negotiated lower prices for the Medicare program beginning in 2026. Boehringer Ingelheim and Eli Lilly and Company (NYSE:LLY) agreed to slash the drug's price by roughly two-thirds.
U.S. patients currently pay significantly more for prescription medicines than patients in other developed countries, a gap President Donald Trump has repeatedly cited while urging drugmakers to lower prices.
Government Pricing Agreements
The broader wave of increases comes even as the administration has struck pricing deals with 14 manufacturers covering some drugs sold through Medicaid and to cash-paying consumers.
Companies involved include Pfizer Inc. (NYSE:PFE), Sanofi (NASDAQ:SNY), Boehringer Ingelheim, Novartis AG (NYSE:NVS), and GSK plc (NYSE:GSK), all of which still plan to raise prices on certain products starting January 1.
Pfizer accounts for the largest number of planned hikes, with increases on roughly 80 drugs, including cancer therapy Ibrance, migraine treatment Nurtec, and COVID-19 drug Paxlovid.
Most increases are below 10%, though the company plans a 15% hike for its COVID vaccine Comirnaty, and some low-cost hospital drugs face much steeper jumps.
Pfizer Responds On Pricing
Pfizer told Reuters that its average list price increases for innovative medicines and vaccines remain below overall inflation and are needed to support research and rising business costs.
Read Next:
Photo via Shutterstock