Pharmaceutical companies in the United States are planning to raise list prices on at least 350 branded medicines in 2026, even as the Trump administration continues to push for lower drug costs for consumers, data from healthcare research firm 3 Axis Advisors shows.
The planned price hikes cover a wide range of treatments, including vaccines for COVID-19, RSV and shingles, as well as blockbuster cancer drugs such as Pfizer’s Ibrance. The median list price increase is expected to be about 4%, roughly in line with the industry’s adjustments in 2025, and higher than the number of price hikes reported at the same time last year.
These increases occur despite public pressure from the Trump administration, which has been urging drugmakers to cut prices so that U.S. patients pay closer to what people in other wealthy countries are charged. President Trump and his officials have negotiated pricing deals with some companies and vowed to curb high drug costs, but the list price hikes show that many firms still plan to raise costs for a large number of medications.
Industry defenders say the increases reflect inflation and the need to support investment in research and development, while critics argue that raising prices even modestly still leaves patients facing high out-of-pocket costs and contributes to broader affordability challenges in the U.S. healthcare system.
Not all pricing moves are upward: companies also plan to cut prices on a small number of drugs, including a more than 40% reduction for diabetes treatment Jardiance after federal negotiations tied to the Medicare program. However, these cuts affect far fewer medicines than those being raised.
The trend highlights the ongoing tension between government efforts to rein in drug costs and pharmaceutical pricing strategies, which continue to place list prices out of reach for many patients, particularly those paying cash or with limited insurance coverage.
Also read: US Military Says Eight Killed in Strikes on Alleged Drug Boats
