After more than a decade as head of the Pharmaceutical Research and Manufacturing Association of America (PhRMA), the most influential organization representing the U.S. pharmaceutical industry, Steve Ubl will step down as CEO at the end of the year.
PhRMA’s board of directors announced Wednesday Ubl’s resignation and said it would begin a search for his replacement. PhRMA said Ubl will remain on the board until a new CEO is chosen to ensure a smooth transition.
Ubl’s exit comes at a turbulent time for the industry, as President Donald Trump is advancing several initiatives related to drug pricing and domestic manufacturing, and leaders at the Department of Health and Human Services and FDA have embraced certain controversial policies and decisions.
Mr. Ubl joined PhRMA in 2015 after 10 years as CEO of the Advanced Medical Technology Association, which represents the medtech industry.
Ubl has largely shielded the industry from government reform efforts, some of which were recently entrenched with the adoption of President Joe Biden’s Inflation Control Act (IRA) and President Trump’s price-cutting agreements with individual companies.
“On behalf of the Board of Directors, I would like to express our deep gratitude to Steve for his outstanding leadership and unwavering dedication to PhRMA and the patients we serve,” Merck CEO Rob Davis, who is also Chairman of the PhRMA Board of Directors, said in a statement. “Steve has been an exceptional leader during one of the most important times for our industry, and his commitment to ensuring a thoughtful transition will make PhRMA stronger and well-positioned for the future.”
PhRMA said Ubl, the longest-serving CEO in the association’s 68-year history, “expanded the discussion around the role of insurance companies and (pharmacy benefit managers),” which led to legislation and “regulatory actions to curb PBM abuse.”
Ubl’s efforts also help limit President Trump’s $340 billion rebate model, which was scheduled to go into effect at the beginning of the year but was halted by a court ruling in late 2025.
“I am extremely proud of what we have accomplished over the past 10 years and look forward to continuing to support the industry and the patients it serves in the next phase of my career,” Uble said in a statement. “In the meantime, I remain committed to advancing PhRMA’s priorities and supporting a strong and seamless transition in the coming months.”
Ubl dealt with internal turmoil when three major companies, AbbVie, AstraZeneca, and Teva, withdrew from PhRMA in 2023 after the IRA was passed. Two years later, after the election of President Trump, AZ chose to rejoin the association.
The Washington Post, which covered Ubl on Tuesday, said Ubl considered resigning after the 2024 election, but was approached by the PhRMA board.
