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.