Eric Cantor Named PhRMA's Next CEO — SkimNews
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- Eric Cantor, former GOP House majority leader, will be the next CEO of PhRMA, the brand drug industry's top lobbying group, the organization announced Tuesday.
- PhRMA faces mounting political pressure on drug prices from an increasingly populist mood in both political parties.
- The Trump administration is working to codify into law voluntary agreements it struck with more than two dozen pharmaceutical companies to lower U.S. drug prices to peer-country levels.
- Democrats are also pursuing most-favored-nation pricing and are considering adding international prices to the criteria Medicare uses to negotiate drug prices.
Why it matters: Cantor steps into PhRMA's top post facing bipartisan convergence on most-favored-nation drug pricing, with the Trump administration already pushing to legislate voluntary deals covering more than two dozen companies and Democrats weighing international prices into Medicare's negotiation criteria — leaving the industry lobby to defend brand-drug pricing from both flanks simultaneously.
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