JUANA SUMMERS, HOST:
Every January, drug companies typically raise prices for hundreds of brand-name drugs, but over the last few years, the Trump and Biden administrations have tried to rein in high drug prices. NPR pharmaceuticals correspondent Sydney Lupkin is here with more. Hi.
SYDNEY LUPKIN, BYLINE: Hi.
SUMMERS: So, Sydney, start by telling us how many drug prices went up this year.
LUPKIN: Yeah. Prices for 872 drugs have increased in the first two weeks of 2026, and there could still be more before the month is over. They included drugs that treat cancer, Type 2 diabetes, even COVID shots and antibiotics were on the list. That's according to an analysis by 46brooklyn, a drug price research firm. Here's Antonio Ciaccia, 46brooklyn's CEO.
ANTONIO CIACCIA: January is prime time for list price changes on brand-name drugs. So in examining where we are today, we're pretty much in line with the last, you know, few years.
LUPKIN: And while those drug price hikes are pretty modest, a median of 4%, they still have an effect on the overall health system. These are list prices, which play a role in which drugs insurers choose to cover and what the patient ultimately pays at the pharmacy counter.
SUMMERS: But I thought that the Trump administration was actively trying to lower drug prices. So what's going on here?
LUPKIN: Yeah. The Trump administration has been trying to crack down on high drug prices in America and getting other countries to pay their, quote, "fair share." The administration calls it most-favored nation drug pricing. Since the end of September, 16 companies have made deals in exchange for a break on certain tariffs. The deals vary but include discounts on some drugs available to people paying cash, that is, not using their health insurance. A new website with those offers, called trumprx.gov, is supposed to launch later this month, but the 46brooklyn data show that, in fact, all of those companies have increased at least some of their list prices so far in 2026.
SUMMERS: So if I understand correctly, you're saying that some of these companies raised prices even though they made deals with the Trump administration?
LUPKIN: Yeah. The deals were short on details and were limited. They mentioned cash prices for some drugs and some vague commitments for Medicaid discounts, something the program already gets. The bigger pledge was for future drugs being launched at the same price here as in other wealthy countries, but that leaves a lot of the companies' products untouched. Here's Dr. Ben Rome, a physician and health policy researcher at Brigham and Women's Hospital.
BEN ROME: Those deals probably are not very important in terms of manufacturer drug pricing and the prices paid by most Americans for prescription drugs.
LUPKIN: So Pfizer, which inked the first Trump administration deal in the fall, raised prices on 72 products, according to 46brooklyn. They include a 15% increase on the price of its COVID shot.
SUMMERS: And what does Pfizer say about that?
LUPKIN: Yeah. Pfizer says its price increases were modest and necessary to invest in new medicines and address added costs. In an email to NPR, Pfizer also pointed out that while list prices have gone up, the prices insurance companies pay them have gone down because of bigger rebates and discounts. I asked the Trump administration about the January price increases, and the White House told me list prices don't really matter.
SUMMERS: OK. Sydney, we've talked about increases, but were there any decreases?
LUPKIN: There were. There were 18 big price cuts in the first few days of the year, including four drugs that were part of Medicare drug price negotiation, which was actually a Biden administration initiative. The negotiations lowered prices for Medicare, and a big question was whether that would affect prices for everyone else. Now, we see that it was likely at least a factor in lowering prices in the commercial market. Fiasp, an insulin, got a 75% price cut. Farxiga and Jardiance, both for diabetes and heart failure, and the blood thinner Eliquis, also got big price drops. But I should add that these are decisions that companies make based on a variety of factors and policies.
SUMMERS: NPR pharmaceuticals correspondent Sydney Lupkin. Thank you.
LUPKIN: You bet. Transcript provided by NPR, Copyright NPR.
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