Drug Companies Plan Widespread US Price Increases for 2026

Pharmaceutical companies are preparing to raise US list prices on hundreds of branded medicines next year, including major vaccines and high-profile cancer treatments. The planned increases come at a time when political leaders continue to push the industry to lower drug costs for American patients.

Healthcare pricing data from research firm 3 Axis Advisors shows that at least 350 medicines are scheduled for price increases in 2026.

Price Hikes Expand Compared to Last Year

The number of planned increases for 2026 exceeds last year’s total at the same stage, when companies announced price hikes for just over 250 drugs.

Typical Increases Remain Moderate

The median price rise for next year is about 4 percent, roughly the same pace seen in 2025. These figures reflect list prices only and do not include rebates or confidential discounts negotiated with insurers or pharmacy benefit managers.

Despite those hidden discounts, US consumers still face some of the highest prescription drug costs in the world.

Select Medicines Will Become Cheaper

While most drugs are getting more expensive, manufacturers are also planning price reductions on a limited number of products.

Jardiance Among the Biggest Cuts

About nine drugs are set to receive list price cuts, including a more than 40 percent reduction for the diabetes medication Jardiance and several related therapies. Boehringer Ingelheim and Eli Lilly, which jointly market Jardiance, have not explained the reasoning behind the change.

The diabetes drug is also part of a federal program that began in 2026 and negotiated lower Medicare prices for older Americans, resulting in a substantial government-mandated discount.

Political Pressure Fails to Halt Increases

The price hikes are moving forward even as former President Donald Trump continues to urge drugmakers to align US prices with those charged in other wealthy nations.

Limited Impact of Government Deals

Although the administration reached pricing agreements with 14 drugmakers covering certain Medicaid and cash-pay drugs, many of those same companies still plan to raise prices on other products starting January 1.

Health policy experts argue these agreements do little to address the underlying causes of high US drug prices.

Pfizer Plans the Largest Number of Increases

Pfizer accounts for the most planned price hikes, with adjustments affecting around 80 medicines.

Vaccines, Cancer Drugs, and Hospital Treatments

The increases include treatments such as cancer drug Ibrance, migraine therapy Nurtec, COVID antiviral Paxlovid, and hospital-use medicines like morphine.

Most of Pfizer’s planned increases fall below 10 percent, though its COVID vaccine will see a larger jump. Some low-cost hospital drugs are set for sharper increases.

Pfizer said the changes reflect rising business costs and continued investment in drug development.

Other Global Drugmakers Follow Suit

European pharmaceutical firms are also adjusting prices.

GSK, Sanofi, and Novartis

GSK plans to raise prices on roughly 20 drugs and vaccines, citing the need to fund scientific research. Sanofi and Novartis declined to comment on their pricing strategies.

More Pricing Changes Likely in January

January is traditionally the peak period for drug price changes, and analysts expect additional announcements in early 2026.

3 Axis Advisors, which compiled the pricing data, works with pharmacy groups, insurers, and healthcare organizations and is affiliated with the drug-pricing nonprofit 46brooklyn.