US drug prices are set to rise again in 2026, with drugmakers planning increases on at least 350 branded medicines, according to new data from healthcare research firm 3 Axis Advisors.
The planned hikes will affect vaccines for COVID, RSV, and shingles, as well as major treatments like Pfizer's cancer drug Ibrance, raising concerns for patients already paying some of the highest drug prices in the world.
The data shows the number of planned price increases is higher than last year.
At the same point in 2025, companies planned hikes on just over 250 drugs. For 2026, the median increase is about 4%, similar to this year, ET reported.
These listed prices do not include rebates or discounts that drugmakers later negotiate with insurers or pharmacy benefit managers.
The increases come even as President Donald Trump continues to pressure pharmaceutical companies to lower US drug prices to levels closer to those in other wealthy countries.
Americans often pay nearly three times more for prescription medicines than patients in other developed nations.
Some companies are cutting prices, but on far fewer drugs. Around nine medicines are set for price reductions, including a cut of more than 40% for the diabetes drug Jardiance and three related treatments.
Jardiance is one of 10 drugs for which the U.S. government negotiated lower prices for Medicare patients starting in 2026. Under that deal, the price was reduced by about two-thirds.
Drugmakers to raise US prices on at least 350 medicines despite pressure from Trump https://t.co/yvazxLYQgG pic.twitter.com/z8bitu7oqm
— New York Post (@nypost) December 31, 2025
Pfizer to Raise Prices on 80 Drugs in 2026
Despite these negotiations, many companies involved in government pricing deals still plan to raise prices on other drugs.
Pfizer, Sanofi, Boehringer Ingelheim, Novartis, and GSK have all reached agreements affecting Medicaid or cash-paying customers, yet several of their medicines will see higher prices starting January 1.
"These deals are being announced as transformative when, in fact, they really just nibble around the margins in terms of what is really driving high prices for prescription drugs in the U.S.," said Dr. Benjamin Rome, a health policy researcher at Brigham and Women's Hospital in Boston.
He added that companies appear to keep list prices high while quietly offering different discounts behind the scenes.
According to Reuters, Pfizer plans the most increases, raising prices on about 80 drugs. These include Ibrance, migraine drug Nurtec, COVID treatment Paxlovid, and hospital medicines like morphine.
Most hikes are under 10%, though Pfizer plans a 15% increase for its COVID vaccine Comirnaty. Some low-cost hospital drugs will see much larger jumps.
Pfizer said its average price increases are below inflation and are needed to support research and rising costs.
GSK also said its planned increases, ranging from 2% to 8.9%, are meant to support innovation.
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