April 8 (Reuters) – Steve Ubl, the chief executive of Pharmaceutical Research and Manufacturers of America, plans to step down at the end of the year, the U.S. pharmaceutical lobby group said on Wednesday.
Ubl communicated his decision to the board, which will begin a search for his successor. Ubl will remain in his role until a new CEO is appointed to ensure a smooth transition.
Ubl has been the CEO of Pharmaceutical Research and Manufacturers of America since September 2015.
During his tenure, Ubl led the industry’s main trade group through the COVID‑19 pandemic and repeated policy fights with U.S. administrations and lawmakers over prescription drug pricing, market access and regulation.
“Steve has been an exceptional leader during one of the most consequential periods for our industry, and his commitment to ensuring a thoughtful transition will leave PhRMA stronger and well positioned for the future,” Merck & Co Chief Executive Rob Davis, who chairs PhRMA’s board, said in a statement.
Ubl first considered stepping down after the 2024 U.S. election but was persuaded by PhRMA’s board to stay on longer, the Washington Post reported, citing an interview.
Before joining PhRMA, Ubl served as president and CEO of AdvaMed, the medical device industry’s top trade association.
During that time, AdvaMed expanded its influence in Washington and played a central role in negotiations over U.S. Food and Drug Administration review processes, Medicare coverage policy and efforts to delay the medical device excise tax.
Earlier in his career, Ubl worked on Capitol Hill and served as vice president of legislation for the Federation of American Hospitals, focusing on healthcare policy and reimbursement issues.
(Reporting by Mariam Sunny and Siddhi Mahatole in Bengaluru; Editing by Maju Samuel)
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