Eric Cantor named new president of pharma trade group

Eric Cantor named new president of pharma trade group

PhRMA, the leading lobbying and trade organization for the U.S. pharmaceutical industry, announced Tuesday that former Republican House Majority Leader Eric Cantor will be taking over as its president.

It has been over 10 years since the former Virginia congressman left office early after losing in his primary election in 2014.

During his time in Congress, Cantor was known as being one the pharmaceutical industries fiercest defenders , pushing back against Democrat-led proposals for Medicare price controls.

“The American biopharmaceutical industry leads the world,” Cantor said in a statement Tuesday. “PhRMA’s member companies operate at the cutting edge of science and technology seeking novel treatments and cures for both chronic and rare diseases.”

Since losing his reelection bid, Cantor has primarily worked as vice chairman and managing director at the investment firm Moelis & Company.

“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,” Rob Davis, CEO of Merck and chair of PhRMA’s board of directors, said in the announcement.

“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,” Davis added. “The Board looks forward to working with him to advance policies that strengthen American biopharmaceutical innovation and expand access to medicines for patients.”

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