(The Hill) – The cost of at least 350 drugs in the U.S. are expected to rise in 2026, according to a new analysis, despite many of the drugmakers pledging to offer more favorable prices under new Trump administration policies.

New data from the health care research firm 3 Axis Advisors, reported on first by Reuters, found that the a higher number of drugs would see prices increases next year than compared to last year, when more than 250 drugs were slated for markups.

The median price hike hovers around 4 percent.

These projections comes on the heels of the Trump administration successfully enforcing its Most Favored Nation (MFN) policy on more than a dozen drugmakers this year, procuring agreements that ensure they will offer their products at MFN pricing — the same price as the lowest they sell it globally — as well as offer direct-to-consumer (DTC) options.

The DTC platform called TrumpRx is expected to launch early in 2026.

“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.