Drugmakers plan 2026 price hikes on 350+ U.S. drugs, averaging 4%, with some cuts due to Medicare negotiations.

Drugmakers plan to raise prices on at least 350 branded drugs in the U.S. for 2026, including vaccines and cancer treatments, with a median increase of about 4%, up from over 250 drugs last year. The hikes exclude rebates and discounts, while about nine drugs, including Jardiance, will see price cuts, some exceeding 40%, due to Medicare negotiations. Pfizer, GSK, and others cite innovation and rising costs, with some hospital-administered drugs seeing steep increases. The Trump administration secured new pricing deals with 14 companies, offering discounts for Medicaid and cash-paying patients, but experts say the impact is limited. CMS launched two pilot programs in December 2025 to align U.S. drug prices with international benchmarks, requiring rebates if prices exceed those in 19 OECD countries, with public comments due in February 2026.