| |  | The Lead Brief | It’s the end of an era, as Steve Ubl steps down from the nation’s most moneyed pharmaceutical lobbying group. It comes as the industry faces a continued bipartisan push to rein in the high cost of drugs. Ubl has helmed the Pharmaceutical Research and Manufacturers of America, better known as PhRMA, for more than a decade. He’s stepping down at the end of the year. Ubl is the longest-serving CEO of the group, which has become a $521 million juggernaut — nearly double the revenue of the U.S. Chamber of Commerce. The group’s lobbying has also increased over the years, rising to a record $37.9 million in 2025. Ubl’s looming departure also comes as PhRMA’s head of federal advocacy, Steve Tilton, decamped for member company BMS last week. Mike Woody, who had been Tilton’s deputy, is serving as interim head of federal, I’m told. → Ubl — who talked to WaPo’s Dan Diamond on Tuesday about his tenure — said he’s “most proud” of “putting the organization on offense.” PhRMA had been at the forefront of a years-long advocacy campaign to shift the blame of expensive prescription medications to pharmacy benefit managers (PBMs) that negotiate medication discounts with drugmakers and decide which treatments insurance plans will cover. In January, Congress enacted the most significant PBM reform in recent history. → But the pharmaceutical industry group has also faced tough headwinds in the last five years, including a failure to stave off Medicare drug price negotiation during the Biden administration, and clashes with President Donald Trump over his drug pricing and tariff efforts. “We’re an easy target,” Ubl told Dan, emphasizing that he understands the angst Americans have about facing expensive medications. Rob Davis, Merck’s CEO and PhRMA’s board chair, noted that Ubl had been able to deftly navigate difficult moments with Trump, lawmakers and foreign leaders. “He’s the person who drives for compromise in the best interest of all parties,” Davis told Dan. To hear Ubl tell it, he acknowledges the trait: “Maybe I have a special kind of sickness. But I relish this kind of engagement.” Read more: “Washington’s most powerful drug industry lobbyist is stepping down.” Ubl, who was convinced to stay another few years after initially wanting to depart in 2024, plans to stay on until the group finds a replacement. PhRMA is looking at both internal and external candidates to replace him, a person familiar with the process tells me. | 
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