PhRMA Statement on December CMS December CMS GUARD and GLOBE Proposed Rules

WASHINGTON, D.C. (December 19, 2025) - Pharmaceutical Research and Manufacturers of America (PhRMA) Chief Public Affairs Officer & Head of Strategic Initiatives Robby Zirkelbach issued the following statement on today's Centers for Medicare & Medicaid Services (CMS) announcement on the GUARD and GLOBE Proposed Rules:

"Government policies that mandate broad-based foreign price controls are bad for American patients and undermine U.S. leadership. By CMS' own admission, the proposed policies are projected to increase costs for America's seniors, and they will siphon billions from U.S. medicine R&D at a time when China is on the verge of surpassing us."

About PhRMA

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country's leading innovative biopharmaceutical research companies, which are focused on developing innovative medicines that transform lives and create a healthier world. Together, we are fighting for solutions to ensure patients can access and afford medicines that prevent, treat and cure disease. PhRMA member companies have invested more than $850 billion in the search for new treatments and cures over the last decade, supporting nearly five million jobs in the United States.

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