Full Breakdown
PhRMA Names Former House Leader Eric Cantor as President and CEO
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Appointment of Eric Cantor as PhRMA CEO
Pharmaceutical Research and Manufacturers of America (PhRMA) announced on Tuesday that former U.S. House Representative Eric Cantor (R-Va.) will replace outgoing chief Stephen Ubl as president and chief executive officer. Cantor, who served in Congress from 2001-2014 and was House majority leader in 2011, is stepping into the role as the industry confronts heightened public pressure to curb prescription-drug prices.
Cantor’s Congressional Record and Pharma Funding
During his 13-year tenure, Cantor received roughly $900,000 from pharmaceutical and health-product companies, ranking 19th among all House candidates between 1999 and 2018, according to a study published in *JAMA Internal Medicine*. He voted against several price-reduction measures, including a 2003 bill that would have allowed importation of lower-cost drugs and a 2007 proposal requiring Medicare to negotiate drug prices.
PhRMA’s Lobbying Surge Amid Drug-Price Debate
A recent Kaiser Family Foundation poll shows more than half of U.S. adults worry about affording prescription drugs, and nearly three-quarters believe the government should do more to limit prices. In response, PhRMA has launched an unprecedented lobbying effort, spending a record $38 million to influence Capitol Hill.
Verbatim Quotes
- “Cantor, like PhRMA, is an experienced reverse Robin Hood, legislating money away from working families and toward giant corporations,” — Peter Maybarduk