PhRMA has chosen a familiar Washington name for an unfamiliar policy landscape. Tuesday, Endpoints reported that Eric Cantor, the former House Majority Leader, will succeed Steve Ubl as president and CEO on November 9. Cantor, who left politics after his surprise 2014 primary loss, arrives from the investment bank Moelis & Company.

The hire comes at a pivotal moment for drug pricing policy, with both parties under pressure to address affordability amid expectations of divided government after the 2026 midterm elections.

Coverage has noted how Cantor will have to contend with not only the Republican Party’s shift to an economic populist approach—exerting government power over business to control rising drug prices—but also how that has shifted the party’s relationship with industry. The White House’s one-off most-favored-nation agreements represent both a different path to policy and a different posture toward industry from the legislative deal-making that advanced the Gabriella Miller Kids First Research Act and the 21 Century Cures Act.

Reactions from industry and the business community have publicly applauded the choice. He has been called a “smart, controversy-free choice,” while PhRMA Board Chair and Merck CEO Rob Davis praised his “long track record of working effectively across the political spectrum to achieve important outcomes that have a lasting impact.”

– Megan Hickey, Managing Director

On Wednesday, the Trump administration published a final rule that would bring MFN pricing to Medicare Part B for select drugs. The selections, however, appear to be more exclusive than originally expected.

First teased last December, CMS will launch the Global Benchmark for Efficient Drug Pricing (GLOBE) Model on January 1 to align Part B payments with international prices. Distinct from Medicare Part D prescription drug plans, Part B covers drugs and biologics that are administered in an outpatient or clinical setting.

One detail caught the eye of reporters: broad exemptions have narrowed the program’s scope to just four companies. While CMS did not disclose which four, Pink Sheet deduced that Biogen, its Apellis subsidiary, Daiichi Sankyo and Takeda appear to fit the rule’s criteria.

All companies that signed voluntary drug pricing deals with the Trump administration are exempt from GLOBE, a shift from initial announcement. Drugs for rare diseases are also excluded. These exemptions caused CMS to slash estimated savings from $11.9 billion under the proposed model to $440 million—a 96% drop.

A similar MFN pricing pilot for Medicare Part D, acronym-ed GUARD, remains in the proposal stage. While it’s unclear if GUARD will feature similar exemptions to GLOBE, experts have theorized that the pair of models were always intended to be “a stick to coerce manufacturers into voluntary MFN commitments.”

– Andrew Wishon, Editor-in-Chief

• Oct. 5-7 – annual Medicaid Drug Rebate Program Summit, Informa

• “I’ve seen some cases where the approval process takes so long that patients age out of pediatric care before they can access their prescribed therapy” – Dr. Miriah Gillispie-Taylor, MedCity News
• “America originally became the global biotech leader thanks to ample and predictable federal funding for basic scientific research, a university and corporate system that developed and trained a highly skilled workforce, and immigration policies that attracted the world’s top scientists and engineers” – Gary Locke and Patrick McHenry, STAT
• “Rather than asking foreign governments what Americans’ medicines should cost, Washington should make pharmaceutical companies compete for American patients’ business” – Justin Leventhal, RealClearHealth
• “With the explosion of prediction markets that permit betting on elections and the likelihood of pandemics, the emergence of prediction markets for clinical trials and drug approvals was perhaps inevitable” – Genevieve Kanter, JAMA Health Forum

• Real Chemistry unveiled MaestroHCP, an AI-powered enterprise platform that helps pharmaceutical marketers plan, activate and measure omnichannel engagement with greater speed, precision and control. Fierce Pharma: Real Chemistry launches AI-powered MaestroHCP to conduct omnichannel campaigns.
• HRSA approved plans from 10 drugmakers to shift 21 drugs from upfront 340B discounts to back-end rebates starting January 1. Healthcare Dive: HRSA discloses manufacturers approved for revised 340B rebate pilot.
• The four largest PBMs controlled 75% of the U.S. market in 2024, up from 70% in 2022, and payers vertically integrated with a PBM cover 69% of people across commercial plans and Part D. Fierce Healthcare: 4 largest PBMs control 75% of U.S. market, AMA finds.
• Taking effect earlier this week, U.S. tariffs of 100% on patented drugs may acutely impact small and midsize drugmakers due to increased operating costs. CNN: Trump’s huge tariffs on some drugmakers could end up backfiring.
• The Senate HELP Committee voted 12-11 along party lines to advance three Trump health nominees, including Surgeon General pick Nicole Saphier. AP News: Senate committee advances Dr. Nicole Saphier’s nomination for surgeon general.
• Eli Lilly launched the “Change the Course Commitment,” aiming to treat as many diabetes and obesity patients in lower- and middle-income countries as in wealthy ones by 2040. Fierce Pharma: Eli Lilly’s new initiative will take GLP-1s to lower-income nations.
• France and its pharma industry signed a new pricing framework that lets regulators grant temporary, higher “advantageous” launch prices for highly innovative drugs. Pink Sheet: New French Framework Makes Way For Temporary ‘Advantageous’ Drug Prices.
• Fresenius Kabi will sell biosimilars directly to employers through Eversana-owned Waltz Health, extending the direct-to-employer model beyond GLP-1s. Endpoints: After GLP-1s, biosimilars are the new frontier in direct-to-employer plans.
• Fewer patients than expected are receiving targeted cancer drugs due to costs, barriers to genetic testing and the sheer pace of new approvals. The New York Times: New Cancer Drugs Are Revolutionary. Why Don’t More Patients Get Them?