An analysis reveals that the prices of over 350 medications in the United States are anticipated to increase in 2026, despite commitments from numerous pharmaceutical companies to provide more competitive pricing under new policies from the Trump administration.

This information comes from 3 Axis Advisors, a healthcare research firm, and was initially reported by Reuters. The findings indicate a significant rise in the number of drugs facing price hikes compared to the previous year, when over 250 medications experienced price escalations.

The projected median price increase is approximately 4 percent.

These developments follow the successful implementation of the Trump administration’s Most Favored Nation (MFN) policy. This policy has led to agreements with more than a dozen pharmaceutical companies to offer their products at the lowest global prices and to provide direct-to-consumer (DTC) options.

The direct-to-consumer platform, TrumpRx, is slated for launch in early 2026, aiming to make medications more accessible to consumers.

“This represents the greatest victory for patient affordability in the history of American health care, by far,” President Trump said at an Oval Office press conference earlier this month when announcing nine additional companies had agreed to the policy.

“The pharmaceutical companies were difficult, but they also love our country,” he added. “They knew it was unfair, but they were great.”

Pharmaceutical companies entered into voluntary agreements with the White House under the threat of their products being subjected to tariffs that would cut into their bottom lines.

Several of the products projected to cost more next year are made by the companies who have agreed to Trump’s MFN policy, including Pfizer and GSK.

Reuters noted the increases projected by 3 Axis Advisors for 2026 don’t account for rebates to pharmacy benefit managers and other discounts.

The pricing deals struck between the Trump administration and drugmakers applies to the Medicaid program, with most Americans on commercial health plans. MFN pricing could have a negligible impact on Medicaid patients because the program already guarantees the lowest price offered to any commercial payer.

Analysts have been critical of Trump’s MFN policy, arguing it does little to address the root problem behind high drug costs. When analyzing the agreements, the Centre for Economic Policy Research argued that patent monopolies are the primary driver of exorbitant drug costs, something that neither the MFN pricing deals nor drug price negotiation address.