Alumnus Ken C. Frazier, Chairman and Chief Executive Officer of Merck & Co., Inc., was elected chairman of the Board of the Pharmaceutical Research and Manufacturers of America (PhRMA) on April 16, 2015. At the April 16th PhRMA Board meeting, the current president and CEO John J. Castellani announced that he will be retiring effective January 1, 2016. Ken previously held the position of chairman-elect and will succeed Ian C. Read, Chairman and CEO of Pfizer, Inc.

Catellani said, "PhRMA is pleased to welcome Ken Frazier as chairman, and we extend our thanks and gratitude to Ian Read for his invaluable contributions over the last year. Our member companies have never invested more in researching and developing innovative, targeted new medicines to fight life-threatening diseases. Ken's proven leadership ability and deep experience in the biopharmaceutical industry will be incredible assets for our organization and its member companies."

Ken has been President of Merck & Co., Inc. since 2010 and in 2011, he became CEO and Chairman of the Board. Since joining Merck & Co., Inc. in 1992, he has held a number of positions, including President of Global Human Health, Vice President and General Counsel. Ken became a litigation associate at Drinker Biddle in 1978 and was a partner at the firm when he left to join Merck in 1992.