Drugmakers raised prices on hundreds of drugs despite Trump deals, Senate Democrats report finds

EXCLUSIVEHealth newsHealth newsDrugmakers raised prices on hundreds of drugs despite Trump deals, Senate Democrats report findsThe findings raise questions about whether the administration’s “most favored nation” deals are having a meaningful impact on patients.Listen to this article with a free account00:0000:00President Donald Trump announces the launch of TrumpRx at the White House in February.Nathan Howard / Getty ImagesShareAdd NBC News to GoogleApril 16, 2026, 5:00 AM EDTBy Berkeley Lovelace Jr.President Donald Trump has repeatedly said his deals with drugmakers would bring down prescription drug prices in the U.S. But a report released by Senate Democrats finds prices have continued to climb — in some cases, sharply.Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.The report — released Thursday by Sen. Bernie Sanders, I-Vt., the ranking member on the Senate Health, Education, Labor and Pensions Committee, ahead of a hearing focused on drug prices — found that companies that signed drug pricing deals with Trump have raised the cost of hundreds of medications and launched new ones at an average price of $353,000 a year.The price hikes include expensive gene therapies, cancer medications and multiple sclerosis drugs.The report also said the companies that signed deals with Trump have made huge profits during his second term in office. In 2025, the companies made a combined $177 billion in profits, up from $107 billion the year before.It comes as Health Secretary Robert F. Kennedy Jr. is set to testify Thursday in back-to-back hearings on Trump’s budget, first before the House Ways and Means Committee and later before the House Appropriations health panel. He is likely to face questions on Trump’s priorities, including lowering prescription drug costs.The findings raise questions about whether the administration’s “most favored nation” deals — which Trump said would lower U.S. drug prices to match those in other...