Summary
Drug companies are increasing the prices of many brand-name medications in 2026, despite past agreements with President Trump to lower drug costs. Some known drugs will see price hikes, while a few will have reduced costs. President Trump previously secured deals to lower drug prices for Medicare and Medicaid, aiming for parity with international prices.
Key Facts
- Drugmakers are raising prices on over 350 branded medications and vaccines by an average of 4%.
- President Trump made deals with 16 major drug companies to lower drug costs through his TrumpRx platform starting January 2026.
- Americans pay nearly three times more for prescription drugs compared to other wealthy countries.
- In 2026, nearly 1,000 drugs experienced price increases, including Ozempic, Cosentyx, and Stelara.
- Despite hikes, 20 medications experienced price drops, such as Eliquis (down 43%) and Jardiance (down 44.4%).
- COVID-19 and cancer-related drugs, like Comirnaty and Ibrance, are among those with increased prices.
- President Trump highlighted his efforts to reduce drug prices in his State of the Union address.
- Trump's website, TrumpRx, will sell certain prescription drugs at reduced rates for eligible consumers.
