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drug prices
'Outrageous': Trump Loaded Up on Big Pharma Stocks While Jacking Up Drug Costs
"Trump and congressional Republicans intentionally force seniors to pay more for cancer treatment so that Big Pharma can rake in more money that Trump can personally profit from."
Oct 16, 2026
An analysis released Friday by Democrats on the congressional Joint Economic Committee details how US President Donald Trump loaded up on shares of major pharmaceutical companies last year as his administration and Republican allies enacted policies that benefited the industry—at the expense seniors and other patients.
The JEC analysis estimates that Trump increased his stock holdings in the pharmaceutical sector from $1.7 million in 2024 to as much as $56.2 million last year. The committee notes that Trump, who has repeatedly promised to cut drug prices while implementing policies that raised them, "held as much as $39.1 million in stock in the same Big Pharma companies that directly benefited" from a budget package that the president signed into law last summer.
“Trump and congressional Republicans intentionally force seniors to pay more for cancer treatment so that Big Pharma can rake in more money that Trump can personally profit from," said Sen. Maggie Hassan (D-NH), the JEC's ranking member. "It’s outrageous and yet typical from this president, who makes the American people foot the bill again and again for his own gains."
Tucked in the Trump-GOP budget law was a provision exempting some widely used, high-priced prescription drugs from Medicare price negotiations. Merck's cancer medication Keytruda was one of the drugs temporarily shielded by the provision; Merck appears more than 60 times in the president's 2025 financial disclosure.
The JEC analysis notes that "in 2025, Merck reported $18.8 billion in US revenues for Keytruda, which helped the company net $22.5 billion in profits that year, a 16% increase compared to 2024."
The president also made big purchases of stock in Johnson & Johnson, AbbVie, Pfizer, and Amgen last year. The JEC found that each of those companies "had at least one drug that benefited from the carveouts" in the Trump-GOP budget law.
Additionally, the Trump administration has entered friendly agreements with pharmaceutical companies in which the president is invested, including Pfizer and Eli Lilly.
“Trump’s drug pricing deals are a mirage, designed to convince Americans that he’s taken significant action on drug pricing while creating minimal if any downside for Big Pharma,” Peter Maybarduk, access to medicines director for the consumer advocacy group Public Citizen, said last month after his organization obtained heavily redacted texts of the agreements.
"The texts show Trump handing out favors to Big Pharma, undercutting his own models to lower prices, and throwing the support of the US government behind corporate decisions to deny medicines entirely to other countries," said Maybarduk.
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'A Match Made in Hell': Former GOP House Leader to Head Big Pharma Lobby
"Cantor, like PhRMA, is an experienced reverse Robin Hood, legislating money away from working families and toward giant corporations."
Sep 29, 2026
In what advocates for lower drug prices call "a match made in hell," one of the pharmaceutical industry's most powerful lobbying groups is tapping a former Republican leader in the US House of Representatives to head its political operations.
Pharmaceutical Research and Manufacturers of America (PhRMA) named former Rep. Eric Cantor (R-Va.) as its president and CEO on Tuesday amid what is shaping up to be a major fight over the government's ability to regulate prescription drug prices.
Cantor served in Congress from 2001-14 and was named House majority leader in 2011. He resigned in 2014 after losing his Republican primary in a stunning upset to the Tea Party-backed former Rep. Dave Brat.
According to recent polling from KFF, more than half of US adults say they worry about affording prescription drugs and nearly three-quarters say the government should do more to limit prices.
PhRMA emphasized that Cantor's appointment to replace the outgoing CEO Stephen Ubl comes at "a pivotal moment for America’s biopharmaceutical industry."
It is certainly spending like it. As Politico reported on Tuesday, pressure from voters to address the affordability of prescription drugs has been met with an unprecedented lobbying blitz by PhRMA, which poured a record $38 million into efforts to keep Capitol Hill in line.
PhRMA said Cantor’s “global business acumen coupled with policy and political experience at the highest levels of government make him an ideal person to lead PhRMA during this critical next chapter.”
Peter Maybarduk, the access to medicines director for the consumer watchdog group Public Citizen, agreed that Cantor was a perfect fit for PhRMA, but for very different reasons.
"Cantor, like PhRMA, is an experienced reverse Robin Hood, legislating money away from working families and toward giant corporations," Maybarduk said.
During his tenure in Congress, Cantor received roughly $900,000 from the pharmaceutical and health product industry, putting him 19th among all House candidates between 1999 and 2018, according to a JAMA Internal Medicine study of data from the Center for Responsive Politics.
That spending paid dividends, with Cantor voting against legislation aimed at lowering prescription drugs—including one bill in 2003 that would have allowed Americans to import low-cost prescription drugs from abroad and another in 2007 that would have required the federal government to negotiate drug prices for Medicare recipients.
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'Is the President Telling the Truth?' Sanders Corners Trump FDA Nominee on His Bogus Drug Price Claims
"Wow! The American people are so excited to know now that!" US Sen. Bernie Sanders sarcastically said of Trump's false prescription drugs claim.
Sep 24, 2026
Sen. Bernie Sanders on Thursday grilled President Donald Trump's nominee to lead the US Food and Drug Administration about the president's false claims about the price of prescription drugs in the US.
During a Senate confirmation hearing, Sanders (I-Vt.) asked Dr. Heidi Overton about Trump's boast at this year's State of the Union address about giving Americans the cheapest medications of any country in the world.
“President Trump has claimed... that he took prescription drugs from the highest price in the entire world to the lowest,” Sanders said in an incredulous tone.
“Wow!" he continued sarcastically. "The American people are so excited to know now that we pay the lowest prices in the world for prescription drugs.”
BERNIE SANDERS: Trump claims we pay the lowest prices in the world for prescription drugs. Wow! Is the president telling the truth?
FDA NOMINEE HEIDI OVERTON: There has been immense progress--
SANDERS: Do we pay the lowest prices like the president said? You just told us you… pic.twitter.com/X7gWNbSmik
— Aaron Rupar (@atrupar) September 24, 2026
"What do you think?" Sanders asked Overton. "Are we paying the lowest prices in the world for prescription drugs?"
"Senator... there has been immense progress, especially on individual products," Overton replied. "Right now, 89% of branded drugs have signed agreements to lower their prices and make that available..."
Sanders at this point interjected.
"Do we pay the lowest prices?" he asked. "The president said it. He's your boss... He just said we pay the lowest prices in the world for prescription drugs. It's true or it's not true. Is it true?"
"Senator, we have seen..." Overton began.
"Is it true that we pay the lowest prices in the world for prescription drugs, as President Trump has said?" Sanders persisted.
"So, senator, the results that we have seen for the American people... have dropped prices," she replied. "And right now [the Consumer Price Index] says that, for the first time in 60 years, prescription drug prices have gone down by 3%."
"Which may have something to do with the legislation that we passed several years ago," said Sanders, in reference to provisions in the 2022 Inflation Reduction Act that granted Medicare the power to negotiate lower prices for certain prescription drugs.
Even if Trump's policies were solely responsible for a 3% drop in drug prices, that would not make them the lowest in the world by any stretch of the imagination.
A 2024 study from the RAND Corporation found that Americans pay nearly three times as much for prescription drugs compared to the rest of the world.
Sanders' office last year released a report showing that, during the first year of Trump's second term, drug companies raised prices on 688 medications, with a median increase of 5.5%.
Trump has a long history of making false claims about reducing prescription drug costs, and has even said that he has slashed them by as much as 600%, which would mean that pharmaceutical companies are paying consumers to take their medications.
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Trump Claims on Drug Prices Range From 'Fake' to 'Exaggerated' to 'Probably Won't Happen': Analysis
"Trump’s claim to have lowered drug prices amounts to distortion and stealing credit from past administrations whose policies actually made a difference," said one expert.
Aug 21, 2026
A new analysis published Thursday argues that President Donald Trump's claims about prescription drug price reductions under his administration fall into one of three categories: "fake," "exaggerated," or "probably won't happen."
The analysis, released by the consumer advocacy group Public Citizen, came after Trump recently—and buffoonishly—tried to take credit for what was described as the largest year-over-year price drop in more than 60 years, even as experts said a Biden-era policy allowing Medicare to directly negotiate the prices of some drugs was likely the most significant driver of those cost reductions. Data from the US Bureau of Labor Statistics indicates that drug prices fell 3.1% last month compared to the previous year, apparently the biggest decline since 1963.
But Public Citizen emphasized that the Trump administration "did not publish the methods they used for their analyses so that their work can be independently verified."
"For example, because the [Consumer Price Index for Prescription Drugs] is indexed to 1982, the administration would have had to recalculate the index in earlier years to make proper comparisons dating back to the 1960s, and we don’t have information on how this was accomplished," the group's analysis notes. "We also don’t know where they started the time cut offs for presidential administrations in their graph comparing Trump’s supposed achievements to other presidents. Team Trump has a history of misleading Americans using CPI-Rx data by for example picking arbitrary baselines that make their achievements look better. Their lofty claims were disproven in the past."
Public Citizen also took issue with the Trump White House's assertion that the president's "most favored nation" (MFN) deals with pharmaceutical companies are responsible for falling drug prices. The group observed that the only element of Trump's MFN agenda that has been fully launched is TrumpRx, which has not exactly delivered blockbuster savings.
"That’s in part because most Americans have health insurance and will do better purchasing drugs through their insurance plans," Public Citizen said. "TrumpRx may also cause consumers to overpay on brand drugs, as many of the medicines on the site have cheaper generic competitors available at lower price points."
The more likely cause of falling drug prices overall, according to Public Citizen, were "the genericization of expensive branded drugs," the Biden-era Medicare price negotiation program that Trump and congressional Republicans have worked to sabotage, and regulatory changes that took effect in 2024, prior to the start of Trump's second White House term.
“Trump has three kinds of drug pricing policy: fake, exaggerated, and not-real-yet, probably-won’t-happen,” Peter Maybarduk, access to medicines director for Public Citizen, said in a statement. “Prescription drug corporations are raising the prices of new medicines every year, and the CPI doesn’t even count that cost. It’s more likely that patent cliffs and Medicare price negotiation, which took effect this year and saved billions, drove changes in the CPI."
"Trump’s claim to have lowered drug prices amounts to distortion and stealing credit from past administrations whose policies actually made a difference," Maybarduk added.
Last weekend, Trump showcased to reporters a printout of a Washington Post story headlined, "Prescription drug prices record sharpest drop in more than 60 years."
"I told you that was going to happen," the president said.
Trump didn't mention that the Post's story highlights experts' view that "a Biden-era policy that requires Medicare to negotiate prices for some popular prescription drugs is more likely to be driving down costs."
Richard Frank, a senior fellow at the Brookings Institution and professor emeritus of health economics at Harvard University, told the newspaper that "if I was a betting guy on what mattered most, it would be probably stuff around the Inflation Reduction Act," Democratic legislation that included the Medicare drug price negotiation changes.
Trump’s policies, Frank added, "wouldn’t be where I’d place my money."
The president's attempt to take credit for falling drug prices came as his administration actively worked to undermine the price negotiation program that's helping drive costs down.
A Public Citizen investigation published earlier this month revealed that "a quiet change in policy interpretation" that the Trump administration wants to make permanent allowed AbbVie’s pancreatic enzyme medication Creon to escape Medicare price negotiations for at least another seven years.
“The Trump administration wants to make permanent a costly Medicare mistake, which creates windfalls for AbbVie and other drug corporations by excluding some expensive biologic drugs from negotiations for years,” said Maybarduk. “Medicare price negotiation already is far too generous to drugmakers, which gouge Americans for many years before negotiated prices kick in.”
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Pharma Giants Reap Record $300 Billion in Revenue Under Trump as Millions of Americans Ration Medications
"Yet again, Trump has betrayed the American people and put billionaires ahead of working families.”
Aug 14, 2026
The world's ten largest pharmaceutical giants reaped around $300 billion in combined global revenue during the first half of 2026 as millions of people in the US—the country with the highest drug prices in the world—stretched, skipped, or rationed doses to afford their medications, despite President Donald Trump's lofty pledges to slash costs.
An analysis released Thursday by the advocacy group Protect Our Care estimates that Johnson & Johnson, Novartis, AbbVie, Merck, Pfizer, and other pharma behemoths collectively reported $298 billion in revenue in the first half of the year—a $24 billion increase compared to 2025—and distributed $63 billion in benefits to shareholders in the form of share repurchases and dividends.
"The numbers speak for themselves," said Vaishu Jawahar, director of policy programs at Protect Our Care. "While big drug companies make record-breaking sales, raking in billions more than they did last year, a growing number of Americans are struggling to afford their prescription drugs. Yet again, Trump has betrayed the American people and put billionaires ahead of working families.”
Throughout his second White House term, Trump has made mathematically impossible claims about his efforts to curb drug costs, asserting repeatedly that he has cut prices by upwards of 1,000%. Critics of the Trump administration's approach have noted that it has relied on voluntary and secretive deals with pharmaceutical companies, which have gone on to raise prices after meeting with the president and showering him with praise.
One high-profile administration initiative, TrumpRX, has been widely denounced as a scam that will do virtually nothing to lower drug costs for most Americans. The president has also worked to weaken the Medicare drug price negotiation program established during the Biden administration.
“Instead of lowering drug prices for seniors, Trump is holding backroom deals with big drug companies and handing them blockbuster giveaways," said Jawahar. "He has created loopholes for industry giants to evade price negotiations and jack up drug prices for seniors."
The advocacy group Patients for Affordable Drugs noted in a March report that during the first week of 2026, pharmaceutical companies "increased prices on 64 oncology drugs, with 73% of hikes exceeding inflation."
Sixty percent of US adults say they are struggling or worried about being able to afford their prescription medications, according to recent polling from the health policy research organization KFF. The group said that number marked the highest level since 2018.
Separate polling released in March by the West Health-Gallup Center on Healthcare in America found that tens of millions of people in the US "said they have made at least one trade-off with daily living expenses to afford healthcare," including skipping a meal, prolonging a current prescription, and cutting back on utilities.
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'Countless Seniors Will Soon Pay More': Trump Ends Subsidy for Medicare Prescription Drug Plans
"Donald Trump and Republicans are making healthcare more expensive for seniors at every turn."
Jul 29, 2026
The Trump administration on Tuesday said it would end a subsidy program that helped lower premiums for seniors enrolled in Medicare Part D prescription drug plans, a move that's expected to increase monthly costs for millions of Americans amid a broader affordability crisis.
The Centers for Medicare and Medicaid Services (CMS), headed by Mehmet Oz, announced "the conclusion of the Part D Premium Stabilization Demonstration" for the coming year, just months before the start of Medicare open enrollment. Oz characterized the subsidy program as a "bailout" for insurance companies and said that "premiums will go up by less than $10 for most Medicare recipients."
But The Wall Street Journal, which reported the administration's move ahead of the public announcement, noted that nearly half of Medicare Part D plan enrollees would likely see increases "largely in the $11 to $20 range a month." The subsidy program, established in the wake of the Biden-era Inflation Reduction Act, cut the average Part D premium by more than 25% this year.
Leslie Dach, chair of the advocacy group Protect Our Care, said in a statement that President Donald Trump and his Republican allies "continue to force seniors to pay more while handing tax breaks to billionaires and big corporations."
"Trump and Republicans are making healthcare more expensive for seniors at every turn," said Dach. "In the middle of a GOP-induced affordability crisis, they are eliminating a key program that helps seniors afford their medications, meaning countless seniors will soon pay more just to get the lifesaving prescriptions they need. For older Americans living on fixed incomes, even an extra ten or twenty dollars a month can mean choosing between filling their prescription, paying the electric bill, or buying groceries. Seniors deserve lower prescription drug costs and affordable healthcare."
Around 25 million Americans are enrolled in standalone prescription drug plans through Medicare Part D, which is offered by private, Medicare-approved companies. Another 31 million Americans are enrolled in Medicare Part D via privatized Medicare Advantage plans.
Juliette Cubanski, vice president and director of the Program on Medicare Policy at the nonprofit research group KFF, wrote that standalone Medicare Part D prescription drug plans "may soon seem even less affordable" following the Trump administration's change, "leading to further enrollment growth in Medicare Advantage." (Prior to becoming head of CMS, Oz was a prominent booster of Medicare Advantage.)
Each year, millions of people across the US are forced to forgo or ration prescription medications due to high costs.
Kendall Witmer, rapid response director at the Democratic National Committee, said the Trump administration's decision to terminate the Medicare Part D subsidy program shows that the president and his party "are doing everything they can to make healthcare unaffordable for Americans, especially for seniors."
"Trump and Republicans’ massive healthcare cuts have pushed working families to the brink as they grapple with skyrocketing insurance premiums, even bigger medical bills, and rising prescription drug costs," said Witmer. "Americans are taking on record amounts of medical debt just to make ends meet—all while Trump and his family get even richer and his wealthy donors rake in tax cuts."
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Senate Republicans Block Sanders Amendment to Cut US Drug Prices by More Than 50%
Sen. Bernie Sanders said the amendment blocked by the GOP "would prevent pharmaceutical companies from charging more for prescription drugs in the United States than they do in Canada, the UK, Germany, France, and Japan."
Apr 23, 2026
Senate Republicans voted in the early hours of Thursday morning to reject an amendment offered by Sen. Bernie Sanders that aimed to cut US prescription drug prices in half by mandating that Americans pay no more for medications than people in Canada and other wealthy nations.
Just two Republicans, Sens. Josh Hawley of Missouri and Dan Sullivan of Alaska, voted with every present Democrat in support of Sanders' (I-Vt.) proposed amendment to the GOP's emerging budget reconciliation package. Republicans plan to use the legislative vehicle to fund the Department of Homeland Security and its component agencies, principally Immigration and Customs Enforcement (ICE) and Customs and Border Protection (CBP).
The amendment vote put nearly every Senate Republican on the record against a policy supported by President Donald Trump. Last year, Trump signed an executive order directing federal health officials to "communicate most-favored-nation price targets to pharmaceutical manufacturers to bring prices for American patients in line with comparably developed nations."
But experts have noted that, without congressional action giving the federal government more power over drug pricing, pharmaceutical companies would not be required to comply with the proposed targets—rendering Trump's order effectively meaningless. Drug prices have continued to rise in the US despite Trump's order and his outlandish, mathematically impossible claims.
"If Trump is serious about making real change rather than just issuing a press release," Sanders said last year in response to Trump's executive order, "he will support legislation I will soon be introducing to make sure we pay no more for prescription drugs than people in other major countries. If Republicans and Democrats come together on this legislation, we can get it passed in a few weeks."
The Sanders-led amendment that Republicans blocked on Thursday called for reducing "the price of prescription drugs in the United States by more than 50% by adopting most-favored-nation drug pricing so that the American people pay no more for prescription drugs than Europeans or Canadians."
Research has shown that Americans pay at least twice as much on average for prescription drugs as people in other wealthy nations.
"This amendment is very simple," Sanders said during Senate debate on Thursday. "It would prevent pharmaceutical companies from charging more for prescription drugs in the United States than they do in Canada, the UK, Germany, France, and Japan.”
Last May, Sanders and several of his Democratic colleagues in the Senate introduced the Prescription Drug Price Relief Act, which would require federal health officials to "review brand-name drugs annually for excessive pricing and, if a drug is found to be priced excessively, to void any exclusivity granted to its sponsor."
"Under the bill, a price is considered excessive if the domestic average manufacturing price exceeds the median price for the drug in Canada, the United Kingdom, Germany, France, and Japan," according to a summary of the legislation. "If a price does not meet this criteria, or if pricing information is unavailable in at least three of these countries, the price is still considered excessive if it is higher than reasonable in light of specified factors, including development cost, revenue, and the size of the affected patient population."
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As TrumpRx Scam Does Virtually Nothing, Big Pharma Jacks Up Prices on Cancer Drugs
"As they continue to hike prices, the pharmaceutical industry is also working overtime to block reforms that would lower them, and patients are paying the price."
Mar 23, 2026
A report released Monday found that Big Pharma has continued raising prices on dozens of cancer drugs, despite President Donald Trump's repeated false claims that he and his administration have slashed drug prices by a mathematically impossible 600%.
The analysis, conducted by Patients for Affordable Drugs, found that pharmaceutical companies increased prices on 64 oncology drugs in the first weeks of 2026, with the vast majority of price hikes coming in above the rate of inflation.
Patients for Affordable Drugs noted the heavy financial toll that paying for treatments takes on US cancer patients, and said the latest price increases would only exacerbate the crisis.
"Cancer drugs are among the most expensive drugs on the market, costing $74,000 more on average than non-cancer drugs," the group explained. "More than 42% of cancer patients in the US fully depleted their savings within two years of diagnosis to cover their care. More than half of Americans with cancer go into debt because of the cost of their care."
Making matters worse, the group added, is that Big Pharma is heavily lobbying Congress to pass legislation that would further delay small molecule drugs, including "widely used, high-cost cancer treatments," from becoming eligible for Medicare price negotiations.
Merith Basey, CEO of Patients for Affordable Drugs, stressed that the latest price increases were unacceptable given that "cancer is a leading cause of death among American seniors, and the treatments patients rely on are already among the most expensive."
"Yet as they continue to hike prices, the pharmaceutical industry is also working overtime to block reforms that would lower them," added Basey, "and patients are paying the price."
While the Patients for Affordable Drugs report focuses on cancer drugs, a December report from Reuters found that at least 350 branded medications are set for price hikes in 2026, including “vaccines against Covid, RSV, and shingles,” as well as the “blockbuster cancer treatment Ibrance.”
The total projected number of drugs seeing price increases in 2026 is significantly higher than in 2025, when 3 Axis Advisors estimated that pharmaceutical companies raised prices on 250 medications. The median price increase for drugs in 2026 is projected at 4%, roughly the same as in 2025.
All of these price increases have come despite Trump's false claims that he has lowered the prices of drugs to the point where pharmaceutical companies would actually be paying patients to take them.
An analysis released last week by the Center for American Progress (CAP) found that the president's TrumpRx initiative, which was created to purportedly offer Americans cheaper prescription drugs, offered genuinely lower prices on "exactly one" of the 54 medications listed on its website.
CAP also found that nearly one-third of the drugs available on the TrumpRx website have generic alternatives that were cheaper than what was being offered, and that the website made no mention of this.
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TrumpRx Denounced as Corrupt Scheme to Line Pockets of Big Pharma—and Don Jr.
"Trump has dressed up yet another corporate giveaway as a boon to patients," said one watchdog. "Real drug price reform doesn’t look like a website."
Feb 06, 2026
US President Donald Trump on Thursday launched a website, branded with his name, in a purported effort to help patients buy prescription drugs at lower prices.
But experts, watchdog groups, and Democratic lawmakers said TrumpRx will likely do little for consumers—or for the broader goal of bringing down exorbitant medicine costs—while further enriching Big Pharma and potentially lining the pockets of his eldest son, Donald Trump Jr.
TrumpRx.gov, launched in partnership with pharmaceutical giants, points users to direct-to-patient sales platforms hosted by drug companies to facilitate the purchase of an extremely limited selection of medications. For example, TrumpRx's listing for Farxiga links users to AstraZeneca Direct, where patients can pay out of pocket for the type 2 diabetes medication.
Donald Trump Jr. is on the board of BlinkRx, a prescription drug platform that stands to benefit from the Trump administration's promotion of direct-to-patient medicine sales. In December, the president's son reportedly met with top drug company executives and administration officials responsible for regulating the pharmaceutical industry—a gathering hosted by BlinkRx.
Frank Pallone Jr. (D-NJ), the top Democrat on the House Energy and Commerce Committee, said in a statement Thursday that TrumpRx "not only threatens patients’ health, safety, and privacy, but also likely includes kickback schemes designed to enrich President Trump, his family, and their friends."
"TrumpRx has been shrouded in secrecy from the beginning because the administration clearly does not want anyone to know it likely won’t save patients money," said Pallone. "However, we do know Trump only slaps his name on things when there’s something in it for him."
Last week, a group of Democratic senators sent a letter to the inspector general of the US Department of Health and Human Services warning that "without stricter safeguards before its official launch, TrumpRx could be used as a potential vehicle for unlawful kickback schemes that result in excessive costs for the federal government."
In addition to sending users to direct-to-patient sales sites, TrumpRx offers Trump-branded coupons for some medications. To obtain a coupon, site users must accept terms that state: "You agree that by redeeming this coupon, you (and anyone else acting on your behalf) agree not to seek reimbursement from any insurance plan for out-of-pocket costs for prescriptions purchased with this coupon. You also agree not to count the cost of prescriptions toward your deductible or true out-of-pocket costs."
The Washington Post reported that pharmaceutical companies "have agreed to list their drugs on TrumpRx.gov."
"TrumpRx is designed to help Big Pharma keep its prices high by diluting the bargaining power of insurance companies, weakening an important check on pharma."
Experts warned that patients who use TrumpRx could end up paying more for their medications than if they pursued other available options.
"TrumpRx’s offerings are very limited, fewer than 50 drugs listed, and most are niche products used by few patients," Rena Conti, an associate professor at Boston University, told ABC News. "Many are available in generic form at even lower prices or already available to consumers at low or even very low prices elsewhere. This suggests it pays for consumers to check their insurance coverage and ask their regular doctor or pharmacist before they use this service."
Peter Maybarduk, access to medicines director at Public Citizen, offered a more scathing assessment of TrumpRx, saying the president has "dressed up yet another corporate giveaway as a boon to patients."
"Most patients will do better through their insurance than through TrumpRx. Many patients without insurance will not be able to afford drugmakers’ still-high prices funneled through TrumpRx," said Maybarduk. "But drugmakers certainly will appreciate TrumpRx’s free promotion of their products, delivered with a false veneer of price accountability. TrumpRx is designed to help Big Pharma keep its prices high by diluting the bargaining power of insurance companies, weakening an important check on pharma."
“TrumpRx also appears to be another example of this president’s repeated corruption," he continued. "Trump’s son, Donald Trump Jr., sits on the board of BlinkRx, a key business that may benefit financially from TrumpRx. Getting serious about medicine affordability means getting serious about challenging Big Pharma. For all Trump’s talk, Big Pharma is getting a lot of special favors from this White House, while patients still are waiting. Real drug price reform doesn’t look like a website."
Throughout his second White House term, Trump has made outlandish promises to cut drug costs and hosted top executives at the White House to tout splashy deals—only for pharmaceutical giants to continue jacking up prices. Reuters reported last month that drugmakers planned to "raise US prices on at least 350 branded medications, including vaccines against Covid, RSV, and shingles and blockbuster cancer treatment Ibrance" in 2026.
Merith Basey, CEO of Patients for Affordable Drugs Now, said in a statement that the Trump administration's "voluntary agreements" with drug companies "lack clear enforcement mechanisms and still put the power to set and increase prices firmly in the hands of pharmaceutical corporations."
"Patients in our community will soon learn if they can reliably access these discounts at the pharmacy counter, where the program will ultimately be tested and where affordability matters most," Basey said of TrumpRx.
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As Trump Claims He's Slashing Costs, Big Pharma Jacks Up Prices on 350 Drugs
One critic charged that Trump's earlier deals with pharmaceutical companies "just nibble around the margins in terms of what is really driving high prices for prescription drugs in the US."
Dec 31, 2025
President Donald Trump in recent months has made ludicrously false claims about his administration slashing prescription drug prices in the US by as much as 600%, which would entail pharmaceutical companies paying people to use their products.
In reality, reported Reuters on Wednesday, drugmakers are planning to raise prices on hundreds of drugs in 2026.
Citing data from healthcare research firm 3 Axis Advisors, Reuters wrote that at least 350 branded medications are set for price hikes next year, including "vaccines against COVID, RSV, and shingles," as well as the "blockbuster cancer treatment Ibrance."
The total projected number of drugs seeing price increases next year is significantly higher than in 2025, when 3 Axis Advisors estimated that pharmaceutical companies raised prices on 250 medications.
The median price increase for drugs next year is projected at 4%, roughly the same as in 2025.
Reuters also found that some of the companies raising prices on their drugs are the same ones who struck deals with Trump to lower the costs of a limited number of prescriptions earlier this year, including Novartis, Pfizer, Boehringer Ingelheim, and GSK.
In announcing the deals with the pharmaceutical companies, Trump declared that "starting next year, American drug prices will come down fast and furious and will soon be the lowest in the developed world."
But Dr. Benjamin Rome, a health policy researcher at Brigham and Women's Hospital in Boston, told Reuters that the projected savings for Americans under the Trump deals are a drop in the bucket compared with the continued price hikes on other drugs.
"These deals are being announced as transformative when, in fact, they really just nibble around the margins in terms of what is really driving high prices for prescription drugs in the US," Rome explained.
Merith Basey, CEO of Patients For Affordable Drugs Now, a patient advocacy organization focused exclusively on lowering the cost of medications, also said she was unimpressed by Trump's deals with drugmakers.
"Voluntary agreements with drug companies—especially when key details remain undisclosed—are no substitute for durable, system-wide reforms," she said earlier this month. "Patients are overwhelmingly calling on Congress to do more to lower prescription drug prices by holding Big Pharma accountable and addressing the root causes of high drug prices, because drugs don’t work if people can’t afford them."
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