Exclusive-Drugmakers raise US prices on 350 medicines despite pressure from Trump

By Michael Erman

NEW YORK, Dec 31 (Reuters) - Drugmakers plan to raise U.S. prices on at least 350 branded medications including vaccines against COVID, RSV and shingles and blockbuster cancer treatment Ibrance, even as the Trump administration pressures them for cuts, according to data provided exclusively ​by healthcare research firm 3 Axis Advisors.

The number of price increases for 2026 is up from the same point last year, when drugmakers unveiled ‌plans for raises on more than 250 drugs. The median of this year's price hikes is around 4% - in line with 2025.

The increases do not reflect any rebates to pharmacy benefit managers and ‌other discounts.

DRUGMAKERS ALSO CUT SOME PRICES

Drugmakers also plan to cut the list prices on around nine drugs. That includes a more than 40% cut for Boehringer Ingelheim's diabetes drug Jardiance and three related treatments.

Boehringer Ingelheim and Eli Lilly, which sell Jardiance together, did not immediately respond to requests for comment on the reason for the price cuts.

Jardiance is among the 10 drugs for which the U.S. government negotiated a lower price for the Medicare program for people aged 65 and older in 2026. Under those negotiations, ⁠Boehringer and Lilly slashed the Jardiance price by two-thirds.

U.S. ‌patients currently pay by far the most for prescription medicines, often nearly three times more than in other developed nations, and Trump has been pressuring drugmakers to lower their prices to what patients pay in similarly wealthy nations.

The increases on 350 medicines ‍come even as Trump has struck deals with 14 drugmakers on prices of some of their medicines for the government's Medicaid program for low-income Americans and for cash payers. Pfizer, Sanofi, Boehringer Ingelheim, Novartis and GSK are among those companies and also plan to raise prices on some drugs on January 1.

"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 U.S.," said Dr. Benjamin Rome, ‌a health policy researcher at Brigham and Women's Hospital in Boston.

Rome said the companies seem to be maximizing prices while negotiating discounts behind the scenes with health and drug insurers and then setting yet another price for direct-to-consumer cash-pay sales.

An HHS spokesman declined to comment.

KEEPING UP WITH INFLATION

Pfizer announced the most list price hikes, on around 80 different drugs including cancer drug Ibrance, migraine pill Nurtec, and COVID treatment Paxlovid, as well as some administered in hospitals such as morphine and hydromorphone.

Most of Pfizer's increases are below 10%, except for a 15% hike of COVID vaccine Comirnaty, while some of its relatively inexpensive hospital drugs saw more than four-fold ⁠increases.

Pfizer said in a statement it had adjusted the average list price of its innovative ​medicines and vaccines for 2026 below the overall rate of inflation.

"The modest increase is necessary to ​support investments that allow us to continue to discover and deliver new medicines as well as address increased costs throughout our business," the company said.

Larger U.S. drug price increases were once far more common. Drugmakers have scaled them back due to criticism from lawmakers ‍and new government policies, such as penalizing ⁠companies that charge Medicare program prices that rise faster than inflation.

European drugmaker GSK plans to increase prices on around 20 drugs and vaccines from 2% to 8.9%. The drugmaker said it is committed to reasonable prices and the hikes are needed to support scientific innovation.

Sanofi and Novartis did not ⁠respond to requests for comment.

More price hikes and cuts can be expected in early January, which is historically the biggest month for drugmakers to raise prices.

3 Axis is a consulting firm that works ‌with pharmacist groups, health plans and some pharmaceutical industry-related groups on drug pricing and supply chain issues. It is a related entity to, ‌and shares staff with, drug pricing non-profit 46brooklyn.

(Reporting by Michael Erman ; editing by Caroline Humer)

Exclusive-Drugmakers raise US prices on 350 medicines despite pressure from Trump

By Michael Erman NEW YORK, Dec 31 (Reuters) - Drugmakers plan to raise U.S. prices on at least 350 branded medic...
US FDA declines to approve Corcept's drug for rare hormonal disorder

By Sneha S K and Sahil Pandey

Dec 31 (Reuters) - The U.S. Food and Drug Administration has declined to approve Corcept Therapeutics' drug for the ​treatment of a rare hormonal disorder, the company said on Wednesday.

Shares ‌of the drugmaker were down 48% at $36.41.

The company said the FDA could not arrive at a ‌favorable benefit-risk assessment for the hormone-blocking oral treatment, known as relacorilant, without Corcept providing additional evidence of effectiveness.

The company was seeking approval for relacorilant as a treatment for patients with hypertension secondary to hypercortisolism.

"FDA's request for additional data may require ⁠additional trials, significantly dimming Corcept's ‌outlook in Cushings," said Truist analyst Joon Lee.

Hypercortisolism, also known as Cushing's syndrome, occurs when the body is exposed to ‍high cortisol activity.

Corcept had submitted trial data that showed that relacorilant made improvements in a wide array of hypercortisolism's signs and symptoms.

"We will meet with the FDA as soon ​as possible to discuss the best path forward," said Joseph Belanoff, Corcept's ‌CEO.

Main symptoms of hypercortisolism include a fatty hump between the shoulders, a rounded face, and pink or purple stretch marks on the skin. People with Cushing's also experience diabetes, high blood pressure, muscle weakness and immune suppression.

Relacorilant is a selective cortisol modulator designed to block the effects of cortisol, while avoiding certain ⁠off‑target hormonal effects.

"Given the company had opportunities ​to address FDA's concerns during mid and late-stage ​reviews, it's unclear if any further dialogue can resolve the review issues without additional trials," Lee added.

Corcept is also studying the ‍drug in a variety ⁠of serious disorders including ovarian and prostate cancer. Its other drug known as Korlym is approved to treat high blood sugar caused by ⁠hypercortisolism in adults with endogenous Cushing's syndrome.

Other approved treatments for Cushing's syndrome include Isturisa by Recordati ‌and Xeris Biopharma's Recorlev.

(Reporting by Sahil Pandey and Sneha S ‌K in Bengaluru; Editing by Shailesh Kuber)

US FDA declines to approve Corcept's drug for rare hormonal disorder

By Sneha S K and Sahil Pandey Dec 31 (Reuters) - The U.S. Food and Drug Administration has declined to approve C...
People enter Quality Learning Center in Minneapolis, Minnesota, on Tuesday, by which time work had been started to fix a misspelling on the sign. - CNN

It may now be the most famous – or infamous – sign in the country. Posted above a door on Nicollet Avenue in Minneapolis, the Quality Learning Center was missing an "n."

For aconservative content creatorattempting to call out fraud – and the supporters who made his video on day care centers in Minneapolis' Somali community viral – it seemed too absurd not to mention.

"This is Quality 'Learing' Center," Nick Shirley said, pointing to the sign. "They spelled 'learning' wrong."

Shirley's 42-minute video posted the day after Christmas quickly spread, promptingstepped up immigration enforcement,frozen federal fundsand morebiting rhetoricagainst the Somali community from President Donald Trump.

Although Shirley's encounters with other businesses were often more dramatic, the misspelled sign and its locked door made Quality Learning Center a focus of criticism aimed at the state government and Gov. Tim Walz for a system opponents say has allowed fraud to run rampant in Minnesota.

"These are not real businesses," Shirleytold CNN's Whitney Wildthis week, pointing to the Quality Learning Center. A man identifying himself as a manager for the centertold a local TV stationthere was "no fraud going on whatsoever."

CNN is looking into Shirley's claims that this and other Minneapolis-area day care centers are committing fraud.

Federal law enforcement has beeninvestigating fraudin Minnesota forseveral years, and "98 individuals have been charged in our ongoing fraud against the government cases," Assistant US Attorney Melinda Williams told CNN Tuesday. No fraud charges have been filed against Quality Learning Center.

Records show the business has faced repeated questions of whether the service it is providing is meeting state standards, but none of the violations suggested fraud.

Here's what we know about the Quality Learning Center.

According to figures provided to CNN by the state House Republican Caucus, Quality Learning Center was set to receive $1.9 million from theChild Care Assistance Program– known as CCAP – for 2025. It has received nearly $10 million from CCAP since 2019, the document shows.

Nick Shirley speaks outside of Quality Learning Center in Minneapolis, Minnesota, on Tuesday. - CNN

The caucus told CNN the funding figures were obtained from the state Department of Human Services, which did not respond to CNN's request for confirmation Wednesday.

State GOP leadership said they raised concerns about day care centers, including Quality Learning Center, months ago.

"The (House)fraud committee… featured a number of these apparently vacant sites in a hearing that took place all the way back in February, which also included the infamous Quality Learning Center featured in the viral video," state House Speaker Lisa DemuthsaidMonday.

CCAP does not take applications directly from day care centers. Instead, qualified working parents and other eligible caregivers who make less than the program's income limitapplydirectly to the state for assistance, which is paid to the day care center.

A budgetforecastproduced in November by the agency that runs CCAP says it's projected to cost the state $56 million in the 2025 fiscal year. Another $101 million in funding for the program was expected to come from the federal government.

Quality Learning Center's most recent inspection – which state officials say are done unannounced – was on June 23, the facility'slicensing recordshows.

"There have been ongoing investigations involving several of those centers. None of those investigations uncovered findings of fraud," state Department of Children, Youth, and Families Commissioner Tikki Brown said Monday of centers covered in Shirley's video, adding that new site visits would be conducted this week. The department did not respond to multiple requests from CNN for whether those additional visits have been completed and what the results were.

"There's no fraud going on whatsoever," said Ibrahim Ali, who identified himself as a manager and son of the owners of Quality Learning Center, toCNN affiliate KAREon Monday. He said Shirley's video was taken before the business had opened for the day.

"If you look around, there's cars now because our employees are here, our children are here," he said on Monday.

Shirley's video came 11 months after a similar visit to Quality Learning Center from a reporter forlocal TV station KSTP, who also was told by a worker that the building was not yet open because it provides after-school care, with posted operating hours of 2 to 10 p.m.

State DHSrecordsshow Quality Learning Center was cited for 121 violations from May 2022 to June 2025, including 10 in the most recent inspection, listed as a licensing review. Citations included having an unqualified substitute and failing to have proper documentation for children's medicine. None of the violations suggest that the building was empty.

The state records also show correction documents were submitted and approved in response to the violations.

But even without allegations of fraud, Quality Learning Center's license has previously been in jeopardy.

In May 2022, site inspectors found 27 violations, 10 of them repeats of previous violations.

"Due to the serious and chronic nature of these violations, and the conditions in the program, which impact the health and safety of children in your care, your license to provide childcare services is placed on a conditional status for two years," said a publicly filednoticein June 2022.

Although Shirley's video implied the day care was empty, several of the violations noted in that report involved overcrowding, with too many children in some rooms and too few adults supervising them.

Staff lacked training, the 2022 notice said, and one person misidentified themselves to investigators.

The citation focused on a lack of documentation for many children. "There were several children present who did not have files," the letter says, adding that "staff were unable to provide the first and last names for most of the children present."

Although it remained on conditional status for two years, Quality Learning Center was never suspended, according to state records. It has twice been fined $200 for allowing the background check on an employee to expire.

On Tuesday afternoon, the sidewalk in front of the facility had become a hive of activity – including the return of Nick Shirley – as media and Shirley supporters watched adults escorting children in and out. A CNN crew was kept back from the property, told by an unidentified person that being in the parking lot would be considered trespassing.

Determining exactly how many children are served by Quality Learning Center – now, or in the past – is difficult from state records. The facility is licensed to provide care for a maximum of 99 children, but Ali, the center's manager, told KARE it serves anywhere from 50 to 80 children on an average day.

The state Department of Human Services has not responded to CNN's requests for details about enrollment figures.

CNN has been unable to reach the business or its registered owner, Siman Aden, using listed phone numbers, and it is not clear if they have an attorney.

Questions about the current status of the business were complicated by conflicting statements on Monday.

"Quality Learning Center closed just over a week ago," Brown said in anews conference, an assertion repeated in a statement to CNN from Walz's office.

But observers found kids arriving at Quality Learning Center that same afternoon, resulting in a raft of onlineconspiracytheories.Quality Learning Center "decided to remain open," a department spokesperson told theMinnesota Star Tribune.

Speaking to CNN outside the building Tuesday, Nick Shirley dismissed the idea that seeing children entering the building disproved his video.

"They're showing face right now," hesaid.

CNN reached out to Brown's agency for more information about why it initially thought the center had closed. The state licensing database shows Quality Learning Center's license was renewed through the end of 2026.

And as for that missing letter "n"? Ali told KARE it was a mistake by the graphic designer. By Tuesday, work on a fix was underway.

CNN's Whitney Wild and Chris Boyette contributed to this report.

For more CNN news and newsletters create an account atCNN.com

What we know about a Minneapolis day care center that was highlighted in video about alleged fraud

It may now be the most famous – or infamous – sign in the country. Posted above a door on Nicollet Avenue in Minneapolis, the Quality Learn...
Maduro open to US talks on drug trafficking, but silent on CIA strike

CARACAS, Venezuela (AP) — Venezuela is open to negotiating an agreement with the United States tocombat drug trafficking, the South American country's President Nicolás Maduro said in a pretaped interview aired Thursday on state television, but he declined to comment on a CIA-led strike last week at a Venezuelan docking area that the Trump administration believed was used by cartels.

Maduro, in an interview with Spanish journalist Ignacio Ramonet, reiterated that the U.S. wants to force a government change in Venezuela and gain access to its vast oil reserves through the monthslong pressure campaign that began witha massive military deployment to the Caribbean Seain August.

"What are they seeking? It is clear that they seek to impose themselves through threats, intimidation and force," Maduro said, later adding thatit is time for both nations to "start talking seriously, with data in hand."

"The U.S. government knows, because we've told many of their spokespeople, that if they want to seriously discuss an agreement to combat drug trafficking, we're ready," he said. "If they want oil, Venezuela is ready for U.S. investment, like with Chevron, whenever they want it, wherever they want it and however they want it."

Chevron Corp. is the only major oil company exporting Venezuelan crude to the U.S. Venezuela has the world's largest proven oil reserves.

The interview was taped onNew Year's Eve, the same day the U.S. military announced strikes against five alleged drug-smuggling boats. The latest attacks bring the total number of known boat strikes to 35 and the number of people killed to at least 115, according to numbers announced by the Trump administration. Venezuelans are among the victims.

President Donald Trump hasjustified the attacksas a necessary escalation to stem the flow of drugs into the United States and asserted that the U.S. is engaged in an"armed conflict" with drug cartels. The strikes began off Venezuela's Caribbean coast and later expanded to the eastern Pacific Ocean.

Meanwhile, the CIA was behinda drone strike last weekat a docking area believed to have been used by Venezuelan drug cartels, according to two people familiar with details of the operation who requested anonymity to discuss the classified matter. It was the first known direct operation on Venezuelan soil since the boat strikes began, a significant escalation in the administration'spressure campaignon Maduro, who has been charged with narco-terrorism in the U.S.

Asked about the operation on Venezuelan soil, Maduro said he could "talk about it in a few days."

Associated Press writer Aamer Madhani contributed to this report from Washington.

Maduro open to US talks on drug trafficking, but silent on CIA strike

CARACAS, Venezuela (AP) — Venezuela is open to negotiating an agreement with the United States tocombat drug trafficking,...
Asia's factories end 2025 on firmer footing as orders pick up

SINGAPORE, Jan 2 (Reuters) - Asia's factory powerhouses closed 2025 on a firmer footing, with activity swinging back to growth in several key economies as export orders ​picked up, helped by new product launches.

Purchasing managers' indexes (PMIs) released by S&P Global on ‌Friday showed factory activity in the major tech exporting economies of South Korea and Taiwan snapping months of declines ‌in December, while most Southeast Asian nations maintained brisk growth.

They followed PMIs released for China on Tuesday, which also showed an unexpected turnaround in factory activity in the world's second-largest economy, helped by a pre-holiday surge in orders.

While it is too early to say whether Asia's largest exporters are ⁠adjusting to U.S. tariffs, a ‌pickup in global demand had given some manufacturers cause for optimism heading into the new year.

"Taiwan's manufacturing sector ended 2025 on a high, with firms ‍signalling fresh increases in production and overall new business amid reports of firmer demand conditions," said Annabel Fiddes, Economics Associate Director at S&P Global Market Intelligence.

"There were signs that companies anticipate the recovery to ​continue into 2026, with manufacturers building their inventories and expressing stronger optimism around future output."

Taiwan's ‌PMI rose to 50.9 in December from 48.8 in November, breaking above the 50-point mark that separates growth from contraction for the first time in 10 months.

Similarly, South Korea's PMI rose to 50.1 from 49.4, the first expansionary reading since September.

Both economies are among the world's largest manufacturers of semiconductors, which have benefited enormously from a booming market forartificial intelligence.

South Korea's ⁠PMI survey showed the steepest rise in new orders ​since November 2024.

"According to manufacturers, new product launches and ​improved external demand drove the improvement in sales, while confidence in the outlook also improved markedly in December to reach its highest level since May 2022," ‍said Usamah Bhatti, economist ⁠at S&P Global Market Intelligence. "In turn, firms were encouraged to raise both employment levels and purchasing activity."

Elsewhere in Asia, factories mostly sustained activity growth although Indonesia and Vietnam reported ⁠slight moderations in expansion.

Separately, Singapore on Friday reported a pickup in economic growth for 2025 to 4.8% from ‌4.4% in 2024.

S&P Global will release the Japanese PMI on Monday.

(Reporting by bureaus; ‌Writing by Sam Holmes; Editing by Shri Navaratnam)

Asia's factories end 2025 on firmer footing as orders pick up

SINGAPORE, Jan 2 (Reuters) - Asia's factory powerhouses closed 2025 on a firmer footing, with activity swinging back ...
China taxes condoms, contraceptive drugs in bid to spur birth rate

HONG KONG, Jan 2 (Reuters) - China removed a three-decade-old tax exemption on contraceptive drugs and ​devices from January 1 in new steps ‌to spur a flagging birth rate.

Condoms and contraceptive pills now ‌incur value-added tax of 13%, the standard rate for most consumer goods.

The move comes as Beijing struggles to boost birth rates in the world's second-largest economy. ⁠China's population fell ‌for a third consecutive year in 2024 and experts have cautioned the downturn will ‍continue.

China exempted childcare subsidies from personal income tax and rolled out an annual childcare subsidy last year, following ​a series of "fertility-friendly" measures in 2024, such as ‌urging colleges and universities to provide "love education" to portray marriage, love, fertility and family in a positive light.

Top leaders again pledged last month at the annual Central Economic Work Conference to promote "positive marriage and ⁠childbearing attitudes" to stabilise birth rates.

China's ​birth rates have been falling ​for decades as a result of the one-child policy China implemented from 1980 to ‍2015, and ⁠rapid urbanisation.

The high cost of childcare and education as well as job uncertainty and a slowing ⁠economy have also discouraged many young Chinese from getting ‌married and starting a family.

(Reporting by Clare Jim; ‌Editing by Kate Mayberry)

China taxes condoms, contraceptive drugs in bid to spur birth rate

HONG KONG, Jan 2 (Reuters) - China removed a three-decade-old tax exemption on contraceptive drugs and ​devices from Janu...
CARACAS, VENEZUELA - NOVEMBER 21: President of Venezuela Nicolás Maduro speaks during a march as part of the

Venezuelan security forces have detained at least five Americans in recent months as the US has built a pressure campaign against Venezuelan President Nicolás Maduro, a US official familiar with the matter told CNN.

The circumstances of the individual cases vary, and some could have been involved in drug smuggling, the official said. US officials are still collecting information about what the Americans were doing in Venezuela and at the time of their detention, the official added.

Trump administration officials believe that the Maduro regime is detaining the Americans to build leverage against the US, the official said, as the pressure campaign against the Venezuelan leader — including the US strikes on drug boats, a CIA strike on Venezuelan port facility and recent oil blockade — has intensified in recent months.

The tactic mirrors that of Russia, Venezuela's longtime ally, which has detained numerous Americans on Russian soil in recent years to use as leverage in Moscow's tense relations with the US.

The New York Times was first to report on the recently detained Americans.

The State Department did not respond to multiple requests for comment. The White House did not immediately reply to a request for comment.

Trump administration officials have resisted saying that they are actively seeking regime change in Venezuela but have accused Maduro of being illegitimate and a narco-trafficker. The administration has been increasing pressure on Maduro, including the "blockade" of sanctioned oil vessels and other financial tactics.

In December the State Department announced two sets of sanctions against Maduro's family members, targeting three of Maduro's nephews, his sister-in-law and other relatives.

Also in December, the US conducted its first strike on a land target in Venezuela, hitting a port facility in a CIA drone strike, CNN reported.

"It is clear that the current status quo with the current Venezuelan regime is intolerable for the United States," Secretary of State Marco Rubio said during a December press conference when asked about comments from the White House chief of staff that Trump "wants to keep on blowing boats up until Maduro cries uncle."

Venezuela holds hundreds of people as political prisoners,accordingto human rights activists, some of whom were detained in the aftermath of a 2024 election in which Maduro claimed victory but thatindependent observerssaid was undemocratic.

Dozens of people were released from a Venezuelan prison on Thursday, Venezuelan rights groups said.

None of them are American, according to Alfredo Romero, the head of rights group Foro Penal.

This story has been updated with additional details.

CNN's Jennifer Hansler contributed to this report.

For more CNN news and newsletters create an account atCNN.com

Venezuela has detained several Americans as tensions with US rise

Venezuelan security forces have detained at least five Americans in recent months as the US has built a pressure campaign against Venezuela...

 

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