PhRMA Appoints Eric Cantor as New CEO Amid Mounting Drug Price Pressure
Eric Cantor, a former GOP House majority leader, has been named the new CEO of PhRMA, the pharmaceutical industry's leading lobbying group. His appointment comes at a challenging time for the brand drug industry, which is facing increasing political pressure regarding drug prices from both political parties. The Trump administration has been working to codify voluntary agreements with over two dozen companies to lower U.S. pharmaceutical prices to levels comparable to those in other countries. Democrats are also exploring a 'most-favored nation' pricing approach and are considering incorporating international prices into the criteria Medicare uses for drug price negotiations. Cantor's role will involve navigating these complex political and policy landscapes as the industry seeks to influence future legislation and regulations concerning drug costs.
