By Emmanuel Bobby
A new report from Senate Democrats is raising fresh concerns about the cost of prescription medications in the United States, finding that prices have continued to rise—even as Donald Trump has promoted agreements with drugmakers aimed at lowering costs for patients.
The report, released Thursday by Bernie Sanders, the ranking member of the Senate Health, Education, Labor and Pensions Committee, paints a stark picture: hundreds of medications have seen price increases, and newly introduced drugs are entering the market at extraordinarily high costs—averaging around $353,000 per year.
The findings come ahead of a congressional hearing focused on drug pricing and at a time when Robert F. Kennedy Jr. is scheduled to testify before lawmakers about the administration’s health care priorities, including efforts to rein in prescription drug costs.
Price Hikes and Industry Profits
According to the report, pharmaceutical companies that entered into pricing agreements with the Trump administration have continued to increase list prices on a wide range of treatments, including gene therapies, cancer drugs, and medications for chronic illnesses such as multiple sclerosis.
At the same time, the report highlights a sharp rise in industry profits. In 2025, the companies involved collectively generated approximately $177 billion in profits—up significantly from $107 billion the previous year.
Critics argue that this trend raises serious questions about whether the administration’s policies are delivering meaningful relief to patients or instead benefiting drug manufacturers.
Questions Around “Most Favored Nation” Policy
A central component of Trump’s drug pricing strategy has been the so-called “most favored nation” approach, which aims to align U.S. drug prices with those in other wealthy countries where medications are often significantly cheaper.
However, the report suggests that the real-world impact of these agreements remains unclear. While the White House has publicized deals with major pharmaceutical companies, details about which drugs are covered—and how prices are being adjusted—have been limited.
Health policy experts say that lack of transparency makes it difficult to evaluate the effectiveness of the initiative.
Stacie Dusetzina, a professor at Vanderbilt University, noted that closer examination of the available data suggests the administration’s efforts may not be achieving their intended goals.
Dispute Over “List Prices” vs. Real Costs
In response to the report, a White House spokesperson argued that it focuses too heavily on “list prices,” which do not necessarily reflect what patients pay out of pocket after insurance and discounts.
As part of the administration’s agreements, drugmakers have offered discounted prices for certain medications through a government-backed platform, where individuals paying cash can access reduced rates. These discounts are similar to those available through existing services like GoodRx.
However, experts point out that list prices still matter because they influence negotiations with insurers and can drive up overall health care costs, even if some patients pay less at the pharmacy counter.
High-Profile Drugs See Significant Increases
The report highlights several widely used medications that have experienced notable price hikes:
- Keytruda, produced by Merck, rose about 6% to roughly $210,000 per year in the U.S.—far higher than its price in countries like Japan and France.
- Kesimpta from Novartis increased by nearly $10,500 to around $141,000 annually.
- Opdivo, developed by Bristol Myers Squibb, climbed to approximately $260,000 per year—more than double its cost in several European countries.
These increases occurred even as companies were negotiating or participating in pricing agreements with the administration, the report notes.
Surge in Ultra-High-Cost New Treatments
Beyond price hikes, the report also points to a wave of newly launched drugs with extremely high price tags—often reaching into the hundreds of thousands or even millions of dollars.
Among the examples cited:
- Inlexzo from Johnson & Johnson debuted at about $1 million.
- Emrelis by AbbVie launched at roughly $719,000.
- Datroway from AstraZeneca entered the market at around $419,000.
Gene therapies—often designed as one-time treatments—are among the most expensive:
- Itvisma by Novartis carries a list price of approximately $2.59 million.
- Zolgensma, also from Novartis, rose by nearly $200,000 to exceed $2.5 million per treatment.
Meanwhile, Pfizer increased the price of its lung cancer drug Vizimpro by about 5%, bringing its annual cost to roughly $208,000.
“Business as Usual” for Many Drugs
Industry analysts say the report reflects a broader pattern in the pharmaceutical market. Antonio Ciaccia, CEO of the drug pricing research group 46brooklyn, noted that many of the administration’s agreements apply only to select drugs, leaving the majority unaffected.
“For drugs outside those deals, it’s largely business as usual,” he said.
He also pointed out that while average list prices for brand-name drugs saw a slight decline in 2026, that trend appears to be driven primarily by earlier policies, including Medicare price negotiation efforts.
Ongoing Debate Over Effectiveness
As lawmakers prepare to question administration officials, the report is likely to intensify debate over how best to address the high cost of prescription drugs in the U.S.
Supporters of the administration argue that its policies are beginning to expand access to lower-cost options, particularly for uninsured patients. Critics, however, contend that without broader reforms and greater transparency, many Americans will continue to face rising costs.
With billions of dollars at stake and patients directly affected, the issue remains one of the most contentious and closely watched areas of U.S. health policy.
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