Drugmakers Plan 2026 U.S. Price Increases on Over 350 Branded Medications Despite Political Pressure

U.S. drugmakers are planning to raise prices on at least 350 branded prescription medications in 2026, including major vaccines for COVID-19, RSV, and shingles, as well as high-profile cancer drugs such as Pfizer’s Ibrance. The planned increases come despite continued pressure from the Trump administration to rein in prescription drug costs, according to data from healthcare research firm 3 Axis Advisors.

The number of planned price hikes is notably higher than last year, when manufacturers announced increases on more than 250 drugs at the same point in time. The median list price increase for 2026 is approximately 4%, consistent with 2025 levels. These figures reflect list prices only and do not account for rebates, pharmacy benefit manager negotiations, or other discounts that may reduce the final cost paid by insurers or patients.

While most attention is on rising prices, some manufacturers are also cutting costs on a limited number of drugs. Around nine medications are expected to see list price reductions, including a more than 40% cut for the diabetes drug Jardiance and related treatments sold by Boehringer Ingelheim and Eli Lilly. Jardiance is one of the drugs whose price was negotiated downward for Medicare beneficiaries aged 65 and older in 2026, resulting in a two-thirds reduction under the federal program.

Despite these selective cuts, U.S. patients continue to pay significantly more for prescription drugs than consumers in other developed countries, often nearly three times as much. President Trump has pushed pharmaceutical companies to align U.S. prices with those in similarly wealthy nations and has announced agreements with 14 drugmakers to lower prices for Medicaid and cash-paying patients. However, critics argue these deals have limited impact on overall drug affordability.

Pfizer leads the list of planned increases, with price hikes on roughly 80 medications, including Paxlovid, Nurtec, and Comirnaty, its COVID vaccine, which is set for a 15% increase. Some hospital-administered generics saw even steeper jumps. Pfizer maintains that its average price adjustments remain below inflation and are necessary to fund research and offset rising operational costs.

More price changes, both increases and cuts, are expected in early January, traditionally the busiest period for pharmaceutical pricing adjustments.