Drugmakers plan to raise U.S. prices on at least 350 branded medications beginning Jan. 1, including treatments for cancer, COVID-19 and RSV, according to data provided exclusively to Reuters by healthcare research firm 3 Axis Advisors.
The number of increases is up from 250 announced at the same point last year. The median list price increase is around 4%, in line with 2025. The changes do not reflect rebates or discounts negotiated with payers.
Pfizer announced the most price hikes, affecting about 80 medications, including COVID-19 vaccine Comirnaty, which will rise by 15%, and hospital-administered drugs such as morphine and hydromorphone, some of which will see fourfold increases. GSK plans hikes of 2% to 8.9% on about 20 drugs and vaccines. Sanofi and Novartis are also among the companies raising prices.
Boehringer Ingelheim and Eli Lilly plan to cut prices on around nine drugs, including a more than 40% reduction for Type 2 diabetes drug Jardiance and three related treatments. Jardiance is among the 10 medications with Medicare-negotiated prices for 2026, which slashed its cost by two-thirds.
The pricing moves come amid pressure from the Trump administration to lower costs. Several companies striking deals with the administration — including Pfizer, Sanofi, Boehringer Ingelheim, Novartis and GSK — are still moving ahead with price increases in the new year.
