Drug Prices Surge: 350+ Drugs Set for 2026 Hikes

Drug companies are signaling substantial list price increases for 2026, with plans to raise prices on over 350 branded medications. This planned escalation is more pronounced than in the previous year, affecting a wide array of drugs including those for cancer, migraines, and vaccines for COVID-19. The median increase is projected to be around 4%.

These adjustments come as the U.S. government continues to press for lower drug costs. While some agreements have been made to reduce prices for certain patient groups, these are seen by analysts as having a limited overall impact. Americans consistently face higher prescription drug expenses compared to patients in other developed countries.

Pfizer leads the planned increases, with hikes on approximately 80 products, including its COVID-19 vaccine and antiviral, alongside cancer and migraine treatments. Some hospital-administered drugs may see significant price jumps. Conversely, some price reductions are occurring, notably for the diabetes drug Jardiance, as a result of government negotiations for Medicare prices.