Washington, D.C. — U.S. drugmakers are preparing to raise prices on at least 350 branded prescription medicines in 2026, including vaccines and major cancer treatments, according to data reviewed by Reuters, signaling continued pressure on American patients despite political calls for restraint.
The data, provided by healthcare research firm 3 Axis Advisors, show that planned price hikes for 2026 already exceed last year’s early projections, when companies flagged increases for roughly 250 drugs. The median planned increase is about 4%, roughly matching the pace set for 2025. While manufacturers argue the hikes are modest, consumer advocates note that U.S. patients already pay far more for prescription drugs than those in other developed nations.
The planned increases include treatments for COVID-19, RSV, shingles, cancer, migraines, and diabetes. Pfizer alone is expected to raise prices on roughly 80 products, including its COVID treatment Paxlovid, cancer drug Ibrance, and migraine medication Nurtec. Some increases will exceed 10%, including a reported 15% hike for Pfizer’s COVID vaccine Comirnaty.
Drugmakers say list prices do not reflect rebates and discounts negotiated behind the scenes with insurers and pharmacy benefit managers, which can reduce net costs. Still, critics argue those savings rarely translate directly to patients at the pharmacy counter.
A small number of drugs will see price reductions, including significant cuts to the diabetes drug Jardiance after Medicare negotiated lower prices set to take effect in 2026. Even so, the broader trend underscores the limits of government pressure and negotiated agreements in curbing overall drug costs.
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