The Board of Directors of the Pharmaceutical Research and Manufacturers of America (PhRMA) today announced that Eric Cantor has been named the organization’s next president and chief executive officer, bringing decades of experience at the intersection of business and public policy to lead the organization at a pivotal moment for America’s biopharmaceutical industry. He will assume the President & CEO role effective November 9.
“Eric is well respected among policy leaders in Washington and around the world, with a long track record of working effectively across the political spectrum to achieve important outcomes that have a lasting impact,” said Rob Davis, chairman and chief executive officer of Merck and chair of the PhRMA Board of Directors. “Eric’s unique combination of global business acumen coupled with policy and political experience at the highest levels of government make him an ideal person to lead PhRMA during this critical next chapter. The Board looks forward to working with him to advance policies that strengthen American biopharmaceutical innovation and expand access to medicines for patients.”
Cantor represented Virginia in the U.S. House of Representatives from 2000 to 2014, serving as House Majority Leader from 2011 to 2014. During his time in Congress, he led the bipartisan enactment of the Gabriella Miller Kids First Research Act, which prioritized federal support for pediatric disease research at the National Institutes of Health (NIH), and was instrumental in building support for legislation that established Medicare Part D, expanding access to drug coverage for seniors and people with disabilities. He also laid the groundwork for the passage of the 21st Century Cures Act, a landmark bill with bipartisan support that provided a significant increase in funding for the NIH and included Food and Drug Administration (FDA) reforms designed to speed medicine approvals to get them to patients faster.
Since leaving Congress, Cantor has served as Vice Chairman and Managing Director at Moelis & Company where he advised organizations and executives on business strategy, mergers and acquisitions, public policy, and the global economic landscape. He has also served as a member of its Board of Directors, a role in which he will continue to serve while in his new position at PhRMA.
“The American biopharmaceutical industry leads the world,” said Cantor. “PhRMA’s member companies operate at the cutting edge of science and technology seeking novel treatments and cures for both chronic and rare diseases. I’m honored to join in the industry’s efforts to expand patient access, leverage the promise of AI to speed discovery, and be a champion for the hundreds of thousands of Americans working in the biopharmaceutical industry whose science improves, extends, and saves lives.”
Cantor will succeed Stephen J. Ubl, who has led PhRMA since 2015. Ubl has worked closely with the PhRMA Board of Directors to ensure a smooth and stable transition, and he will continue to serve as a strategic advisor. Davis thanked Ubl for his decade of leadership at PhRMA:
“On behalf of the entire Board, I want to express our deep appreciation to Steve for a decade of exceptional leadership and service to our industry,” Davis said. “During a period of tremendous change in health care and public policy, Steve has been a tireless advocate for patients, innovation and the researchers working every day to develop new medicines. We are grateful for his leadership and the lasting impact he has made.”
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