Eric Cantor, a former Republican majority leader in the U.S. House of Representatives, will be the next chief executive officer of PhRMA. The lobbying group announced the appointment on Tuesday.
Cantor takes over leadership of the brand drug industry’s top lobbying group at a time of significant political tension regarding pharmaceutical costs. He faces mounting pressure from both political parties to address drug prices.
The Trump administration is currently working to codify voluntary agreements with more than two dozen companies into law. These agreements aim to lower U.S. pharmaceutical prices to match levels seen in peer countries. Additionally, Democratic lawmakers are considering adding international prices to the criteria Medicare uses when negotiating drug prices.