Eric Cantor named president of PhRMA

Eric Cantor, a former House Republican Majority Leader, has been appointed as the next president of the Pharmaceutical Research and Manufacturers of America (PhRMA), one of Washington's most influential lobbying groups. Cantor, who will assume his new role on November 9, previously served as House majority leader from 2011 to 2014. Since his defeat in a 2014 primary, he has worked as vice chairman and managing director at the investment bank Moelis & Company.

PhRMA represents branded drugmakers and faces significant scrutiny over drug pricing from the Trump administration and Congress, as well as increasing competition from China. The appointment comes as the pharmaceutical industry is actively lobbying the Food and Drug Administration (FDA) and the White House, seeking favorable decisions and leveraging company successes as wins for the administration. This approach has reportedly led to instances where regulatory decisions have been influenced by political considerations, such as the FDA's reversal on Moderna's flu shot application after White House intervention, and Eli Lilly receiving speedy drug review vouchers in exchange for lowering prices on its weight-loss drugs.