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Last week there was a change at the top of PhRMA, the trade group representing the drug industry. Novartis CEO Vas Narasimhan became the chair of the board of directors.

Narasimhan has been CEO of Novartis since 2018. He sat down with STAT to discuss the industry’s struggles in Washington, the future of Novartis, and whether the deflated biotech sector is still a little overvalued.

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