PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA

EIN: 530241211

WASHINGTON, DC

Total Revenue
$521,348,217
Total Expenses
$578,265,057
Total Assets
$349,012,370
Net Assets
$158,537,255
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
DE
Phone
2028353400
Tax Period
2024-01-01 to 2024-12-31

PHARMACEUTICAL RESEARCH AND MANUFACTURERS OF AMERICA, founded in 1958, is a major nonprofit that reported $521.3M in total revenue in fiscal year 2024. Expenses of $578.3M exceeded revenue, resulting in a 11% operating deficit.

Mission

PHRMA'S MISSION IS TO CONDUCT EFFECTIVE ADVOCACY FOR PUBLIC POLICIES THAT ENCOURAGE THE DISCOVERY OF IMPORTANT NEW MEDICINES FOR PATIENTS BY BIOPHARMACEUTICAL RESEARCH COMPANIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,116,000
Program Service Revenue $507,993,172
Investment Income $11,851,925
Other Revenue $387,120
TOTAL REVENUE $521,348,217

Expense Breakdown

Grants Paid $43,264,315
Salaries & Benefits $113,002,505
Fundraising Expenses $0
Program Expenses $0
Other Expenses $421,998,237
TOTAL EXPENSES $578,265,057

Year-over-Year Comparison

2024 2023 Change
Revenue $521,348,217 $483,040,082 +0.1%
Expenses $578,265,057 $426,549,040 +0.4%
Net Income $-56,916,840 $56,491,042 -2.0%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
32
Independent Members
31
Employees
300
Volunteers
3789

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$11,627,030
Total Directors
36
$7,643,016
Key Employees
6
$12,484,816
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Albert Bourla PHD VICE CHAIR 2.0
Officer Director
$0 $0 $0
Daniel O' Day CHAIR 2.0
Officer Director
$0 $0 $0
Paul Hudson TREASURER 2.0
Officer Director
$0 $0 $0
Stephen J Ubl President & CEO 37.5
Officer Director
$5,935,826 $1,707,190 $7,643,016
Alexander Hardy DIRECTOR 2.0
Director
$0 $0 $0
ANTHONY MANCINI DIRECTOR (THRU 08/24) 2.0
Director
$0 $0 $0
Ashley Magargee DIRECTOR 2.0
Director
$0 $0 $0
Barry Greene DIRECTOR 2.0
Director
$0 $0 $0
Bob Lojewski DIRECTOR 2.0
Director
$0 $0 $0
Brad Bailey DIRECTOR (AS OF 08/24) 2.0
Director
$0 $0 $0
Chris Boerner PHD DIRECTOR 2.0
Director
$0 $0 $0
Chris ROUND DIRECTOR (THRU 12/24) 2.0
Director
$0 $0 $0
Chris Viehbacher DIRECTOR 2.0
Director
$0 $0 $0
David Loew DIRECTOR 2.0
Director
$0 $0 $0
David Ricks DIRECTOR 2.0
Director
$0 $0 $0
DOUGLAS L LANGA DIRECTOR (THRU 12/24) 2.0
Director
$0 $0 $0
Emma Walmsley DIRECTOR 2.0
Director
$0 $0 $0
Herve J Hoppenot DIRECTOR 2.0
Director
$0 $0 $0
Jean-Christophe Tellier MD DIRECTOR 2.0
Director
$0 $0 $0
Jean-Michel Boers DIRECTOR 2.0
Director
$0 $0 $0
Jennifer Taubert DIRECTOR 2.0
Director
$0 $0 $0
Julie Kim DIRECTOR 2.0
Director
$0 $0 $0
Ken Keller DIRECTOR 2.0
Director
$0 $0 $0
KEVIN C GORMAN PhD DIRECTOR (THRU 09/24) 2.0
Director
$0 $0 $0
Kyle Gano PHD DIRECTOR (AS OF 10/24) 2.0
Director
$0 $0 $0
MARK REISENAUER DIRECTOR (THRU 04/24) 2.0
Director
$0 $0 $0
Michael Petroutsas DIRECTOR (AS OF 02/24) 2.0
Director
$0 $0 $0
MYRTLE POTTER DIRECTOR (THRU 03/24) 2.0
Director
$0 $0 $0
Richard F Pops DIRECTOR 2.0
Director
$0 $0 $0
Robert A Bradway DIRECTOR 2.0
Director
$0 $0 $0
Robert M Davis DIRECTOR 2.0
Director
$0 $0 $0
Sebastian Guth PHD DIRECTOR 2.0
Director
$0 $0 $0
Tarek Rabah DIRECTOR 2.0
Director
$0 $0 $0
Tatsuyki Yasuno DIRECTOR 2.0
Director
$0 $0 $0
Thomas Gibbs DIRECTOR 2.0
Director
$0 $0 $0
Vasant Vas Narasimhan MD DIRECTOR 2.0
Director
$0 $0 $0
James C Stansel General Counsel & EVP Law, Secretary 37.5
Officer
$1,761,157 $505,701 $2,266,858
Tracey Merchant CFO & EVP, Administration 37.5
Officer
$1,340,588 $376,568 $1,717,156
Elizabeth Carpenter EVP, Policy/Research 37.5
Key Emp
$1,077,102 $677,009 $1,754,111
Lori Reilly COO 37.5
Key Emp
$2,547,833 $1,975,518 $4,523,351
Renuka Iyer EVP, Human Resources 37.5
Key Emp
$652,356 $285,806 $938,162
Robert Zirkelbach II EVP, Public Affairs 37.5
Key Emp
$1,190,211 $691,431 $1,881,642
Shannon Monsif EVP, Alliance 37.5
Key Emp
$1,115,048 $363,936 $1,478,984
Steven Tilton EVP, Federal Advocacy 37.5
Key Emp
$920,326 $988,240 $1,908,566
Anne Pritchett SVP, Policy/Research 37.5
Highest
$2,066,592 $39,615 $2,106,207
Jay Taylor EVP, International 37.5
Highest
$990,116 $348,569 $1,338,685
Kenneth K McKay IV SVP, State Advocacy 37.5
Highest
$935,523 $285,686 $1,221,209
Michael Woody SVP, Federal Advocacy 37.5
Highest
$1,175,941 $288,740 $1,464,681
Scott LaGanga EVP, State Advocacy 37.5
Highest
$1,199,864 $374,645 $1,574,509
Jennifer Bryant EVP, Policy/Research 37.5
$1,858,936 $0 $1,858,936
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $521,348,217 $578,265,057 $349,012,370 $-56,916,840
2023 $483,040,082 $426,549,040 $398,950,677 $56,491,042
2022 $568,384,699 $574,376,853 $286,234,000 $-5,992,154
2021 $609,259,357 $588,810,520 $284,877,801 $20,448,837
2020 $573,617,938 $550,191,718 $213,146,031 $23,426,220
2019 $526,601,050 $505,590,709 $192,855,755 $21,010,341
2018 $459,096,153 $447,626,111 $186,814,044 $11,470,042
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