Drug prices skyrocket heading into 2026, with new data showing hundreds of medications set to cost more. A new analysis finds at least 350 drugs will see price increases this year, even as drugmakers publicly back affordability efforts tied to White House policy changes.
At least 350 drugs expected to cost more in 2026
Health care research firm 3 Axis Advisors reports that drugmakers plan price hikes on at least 350 medications in 2026. That marks a sharp increase from last year, when just over 250 drugs were slated for higher prices.
According to data first reported by Reuters, the median price increase is about 4 percent.
That means many patients could see higher out-of-pocket costs at the pharmacy counter.
Price hikes come despite new White House drug pricing deals
The increases follow the Trump administration’s push to lower prescription drug costs through its Most Favored Nation policy.
Under the policy, more than a dozen drugmakers agreed to sell certain medications at the lowest price they charge globally. The deals also include direct-to-consumer sales options.
President Donald Trump called the agreements a major win for patients during a recent Oval Office announcement.
A new direct-to-consumer platform, TrumpRx, is expected to launch in early 2026.
Some participating drugmakers still raising prices
Several medications expected to rise in price are produced by companies that signed onto the administration’s pricing agreements.
That includes major pharmaceutical firms like Pfizer and GSK.
The projections do not account for rebates paid to pharmacy benefit managers or other behind-the-scenes discounts, which can vary widely.
Impact on Medicaid and privately insured patients
The Most Favored Nation pricing agreements apply mainly to Medicaid. Analysts say that could limit their overall effect.
Medicaid already guarantees the lowest price offered to any commercial payer. As a result, MFN pricing may not significantly reduce costs for Medicaid patients.
Most Americans with private insurance may see little benefit.
Experts say deeper issues still drive high drug prices
Policy analysts argue the agreements fail to address the root cause of high prescription drug costs.
The Centre for Economic Policy Research says patent monopolies remain the main driver of soaring prices. Neither MFN pricing nor existing drug negotiations directly tackle that issue.
As a result, experts warn drug prices could continue climbing beyond 2026.
What patients can expect next
With hundreds of medications facing increases, consumers may want to review their coverage and explore savings options before prices rise.
Patients should consider:
- Comparing pharmacy prices
- Asking about generic alternatives
- Reviewing insurance formularies for 2026
More price changes could be announced in the coming months.
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