Overview
- Senate Democrats’ analysis, released Thursday ahead of a drug-pricing hearing, says 15 of 16 companies in the TrumpRx project raised prices and logged 337 list-price hikes since January 21, 2025.
- The report says new products from those firms launched at an average price of about $353,000 a year, with examples that include a $2.59 million Novartis gene therapy.
- The companies reported $177 billion in profit in 2025, up from $107 billion in 2024, according to the findings.
- The White House rejected the focus on list prices and cited Bureau of Labor Statistics data showing recent declines in what patients pay, while TrumpRx offers cash-only discounts that often mirror GoodRx and do not change list prices used by insurers.
- Sanders and allied senators introduced a bill to tie U.S. prices to the average in Canada, France, Germany, Japan, and the U.K., with low-cost generics cleared if drugmakers refuse.