PhRMA names Eric Cantor chief executive effective 9 November

PhRMA's board of directors named former House Majority Leader Eric Cantor as the organisation's next president and chief executive on 29 September 2026, with the role taking effect on 9 November. Cantor, a former Republican representative from Virginia, will succeed Stephen Ubl, who has led the pharmaceutical lobby since 2015 and notified the board of his plans to step down at the end of 2026.statnews.com+1

The appointment hands leadership of the top U.S. drug industry lobbying group to a former congressional leader as the industry faces pressure on drug prices. PhRMA represents the research-based pharmaceutical manufacturers of America. Cantor will take the helm on 9 November while Ubl continues as a strategic advisor until 15 January 2027, giving the organisation a transition period of more than two months.

What the board announced

Rob Davis, chair of the PhRMA Board of Directors and chief executive of Merck, said the board acted because Cantor brings policy and business experience together. Davis said Cantor is "well respected among policy leaders in Washington and around the world" with a record of working across the political spectrum. He called Cantor's combination of business acumen and government experience ideal for leading PhRMA in its next chapter.

Cantor represented Virginia's 7th congressional district in the U.S. House of Representatives from 2000 to 2014, serving as House Majority Leader from 2011 to 2014. He was expected to be a candidate for Speaker of the House before losing his 2014 primary to Tea Party-backed challenger Dave Brat by double digits. Brat lost re-election two cycles later to Abigail Spanberger, now Virginia's governor.

During his time in Congress, Cantor led bipartisan passage of the Gabriella Miller Kids First Research Act, which prioritised federal support for paediatric disease research at the National Institutes of Health, and helped build support for legislation establishing Medicare Part D, expanding drug coverage for seniors and people with disabilities. He also laid the groundwork for the 21st Century Cures Act, which increased National Institutes of Health funding and included Food and Drug Administration reforms to speed medicine approvals.

Cantor's record in Congress

Since leaving Congress, Cantor has served as Vice Chairman and Managing Director at Moelis & Company, a global investment bank, where he advised organisations and executives on business strategy, mergers and acquisitions, public policy, and the global economic landscape. He sits on the Moelis board of directors and will continue in that role while leading PhRMA, according to the organisation's announcement.

Cantor said the American biopharmaceutical industry leads the world and that PhRMA's member companies operate at the cutting edge of science and technology seeking treatments for chronic and rare diseases. He said he is honoured to join efforts to expand patient access, use artificial intelligence to speed discovery, and champion the hundreds of thousands of Americans working in the biopharmaceutical industry.

The transition plan

Ubl has led PhRMA since 2015 and worked with the board to ensure a smooth transition. Davis thanked Ubl for a decade of leadership, calling him a tireless advocate for patients, innovation and researchers during a period of tremendous change in health care and public policy. Ubl notified the board of his plans to step down at the end of 2026 in April.

Cantor takes the role as the drug industry faces mounting pressure on drug prices and increasing populism from both Republicans and Democrats. PhRMA's board announced the selection on 29 September 2026, and Cantor assumes the president and chief executive role on 9 November 2026, with Ubl serving as a strategic advisor until 15 January 2027.aol.com