A new Reuters report, based on data from healthcare research firm 3 Axis Advisors, names Pfizer (PFE) and GSK (GSK) among the leading drugmakers seeking to hike U.S. prices of as many as 360 branded medicines next year, despite pressure from the Trump administration.
While the number of hikes set for 2026 indicates a significant increase from last year, when drugmakers sought to raise prices for more than 250 drugs, the median of next year’s hikes stands at approximately 4%, in line with the prior year.
Meanwhile, drugmakers also plan to reduce prices of about nine drugs, including a 40% cut for Jardiance, a diabetes drug marketed by Eli Lilly (LLY) with Boehringer Ingelheim. 3 Axis Advisors considered only list prices in its analysis, excluding any rebates to drug middlemen known as pharmacy benefit managers and other discounts.
Despite being the first to ink a drug pricing deal with the U.S. government, Pfizer (PFE) is set to announce the biggest list price hikes, seeking to raise prices for roughly 80 drugs, including its cancer drug Ibrance, migraine therapy Nurtec, and COVID pill Paxlovid.
GSK (GSK) is planning to raise prices of around 20 drugs and vaccines from 2% to 8.9%, according to the report.
More price hikes and cuts are expected in early January, traditionally the most popular month for drugmakers to raise prices.
3 Axis, a consulting firm that collaborates on drug pricing and supply issues with pharmacist groups, healthcare plans, and other industry stakeholders, projected last year that at least 250 branded drugs will see list price hikes in 2025 with a median rise of 4.5%.
The latest price hikes contrast with letters President Donald Trump sent to 17 leading drugmakers in July, which urged them to take steps to lower U.S. prices of prescription medicines within 60 days in line with his most-favored-nation drug pricing policy.
U.S. drugmakers Lilly (LLY), Pfizer (PFE), Merck (MRK), Gilead (GILD), Bristol Myers (BMY), J&J (JNJ), Regeneron (REGN), Amgen (AMGN), and AbbVie (ABBV) faced Trump’s ultimatum.
European drugmakers EMD Serono of Merck KGaA (MKGAF), Sanofi (SNY), GSK (GSK), AstraZeneca (AZN), Novo Nordisk (NVO), Roche’s (RHHBY) Genentech unit, and Novartis (NVS) were also part of the group.