In a sign of resilience against regulatory pressure, pharmaceutical companies intend to hike list prices on over 350 branded drugs for 2026, per 3 Axis Advisors data released December 31, 2025. Affected products span vaccines (COVID, RSV, shingles) and treatments like Pfizer’s Ibrance cancer drug. The median hike remains at about 4%, with most under 10%. Pfizer accounts for roughly 80 adjustments, including on hospital drugs and Paxlovid, while GSK targets 20 items up to 8.9%. This exceeds last year’s preliminary count of over 250, though overall increases have moderated from past decades due to criticism and Medicare inflation penalties.
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Administration’s Push Meets Industry Resistance
The moves defy Trump administration initiatives, including pricing agreements with major firms to reduce costs for select programs and direct sales. Companies like Pfizer and GSK justify increases as essential for R&D investment and offsetting business expenses. Analysts note U.S. patients bear disproportionately high costs compared to global peers, with deals offering limited relief. Researcher Dr. Benjamin Rome described them as insufficient for systemic change. As January approaches—traditionally peak for announcements—the episode underscores challenges in curbing drug pricing amid innovation incentives and political promises.