It's the start of a new year, and for millions of Americans relying on prescription meds, the news isn't cheerful. Just as many families are tightening budgets after holiday spending, drugmakers are quietly rolling out price increases on at least 350 branded medications – from life-saving cancer treatments to everyday vaccines. This comes even as President Trump ramps up pressure on the industry to slash costs, highlighting the ongoing battle over America's sky-high drug prices.
Think about it: You've probably felt the pinch at the pharmacy counter yourself – or know someone who has, skipping doses or splitting pills to make ends meet. U.S. patients already pay nearly three times more for prescriptions than people in other wealthy countries. Trump has made lowering these costs a signature issue, striking deals with companies and pushing for prices matching global lows. Yet, according to exclusive data from healthcare research firm 3 Axis Advisors, the industry is pushing back with more hikes than last year.
The Numbers Tell a Tough Story
The planned increases for 2026 are up from over 250 at this point in 2025, with a median hike around 4% – keeping pace with recent years. These are list prices, before any rebates or discounts negotiated behind closed doors.
Pfizer leads the pack, announcing hikes on about 80 drugs, including:
- Blockbuster cancer drug Ibrance
- Migraine relief Nurtec
- COVID treatment Paxlovid
- A 15% jump for the Comirnaty COVID vaccine
Most are under 10%, but some cheaper hospital meds see massive percentage spikes. Pfizer defends it, saying average increases stay below inflation to fund research and cover rising costs.
GSK plans rises on around 20 products (2% to 8.9%), stressing the need for innovation funding. Other big names like Sanofi and Novartis are in the mix too.
On the brighter side, about nine drugs get list price cuts – the biggest a over 40% drop for diabetes med Jardiance from Boehringer Ingelheim and Eli Lilly. This ties to government-negotiated Medicare discounts kicking in for 2026, slashing its price by two-thirds for seniors.
Trump's Push Meets Industry Reality
Trump has secured deals with 14 drugmakers – including Pfizer, GSK, and Boehringer – for lower prices on some meds for Medicaid and cash payers. He's touted these as game-changers, even launching ideas like a direct-to-consumer platform.
But experts like Dr. Benjamin Rome from Brigham and Women’s Hospital say these "nibble around the margins." Companies maximize list prices, then offer hidden discounts to insurers – leaving many patients, especially those without great coverage, facing the full brunt.
Past big hikes drew backlash and new rules, like penalties for Medicare prices rising faster than inflation. That's tempered extremes, but January remains prime time for adjustments.
What This Means for Everyday Americans
If you're on a fixed income, battling chronic illness, or just trying to stay healthy with vaccines, these hikes hit hard. They add up – especially for vaccines against COVID, RSV, shingles, or ongoing treatments. While rebates help big insurers, cash payers or high-deductible plans often see closer to list prices.
There's hope in negotiated cuts for Medicare drugs like Jardiance, and Trump's ongoing pressure might force more change. But for now, it's a reminder: the fight for affordable meds is far from over.
We all deserve access to the treatments we need without choosing between pills and bills. As more details emerge in January, stay informed – your health, and wallet, depend on it. What do you think – will real change come in 2026? Share your stories; we're in this together.