Romney warns drug execs: 'change is coming'

Romney warns drug execs: 'change is coming'
© Greg Nash

Sen. Mitt RomneyWillard (Mitt) Mitt RomneyA US-UK free trade agreement can hold the Kremlin to account Ex-CIA chief worries campaigns falling short on cybersecurity Overnight Defense: US, Russia tensions grow over nuclear arms | Highlights from Esper's Asia trip | Trump strikes neutral tone on Hong Kong protests | General orders ethics review of special forces MORE (R-Utah) warned pharmaceutical company executives Thursday that change is coming to the industry.

In a short interview in the Capitol, Romney described to The Hill his message to the closed-door meeting of the Pharmaceutical Research and Manufacturers of America (PhRMA) board of directors.

“Change is going to come to pricing and the pharmaceutical industry, and that they are wise to be part of the solution as opposed to opposing change,” Romney said.

Romney’s appearance at PhRMA was first reported by Stat News.

Romney is a member of the Senate Health, Education, Labor and Pensions Committee, which has jurisdiction over a wide array of health care issues, including drug pricing.

He has not yet introduced any drug pricing legislation, but said it would be “something I’ll be looking at down the road.”

Romney’s warning comes as industry is facing increased scrutiny from both Democrats and Republicans, including President TrumpDonald John TrumpTrump watching 'very closely' as Portland braces for dueling protests WaPo calls Trump admin 'another threat' to endangered species Are Democrats turning Trump-like? MORE, over the high costs of prescription drugs.

It comes the same week as a hearing when Senate Finance Committee Chairman Chuck GrassleyCharles (Chuck) Ernest GrassleyGOP senators call for Barr to release full results of Epstein investigation Trump health official: Controversial drug pricing move is 'top priority' Environmental advocates should take another look at biofuels MORE (R-Iowa) threatened to force drug company executives to testify.

The House Energy and Commerce Committee is also pressuring industry, and on Wednesday sent letters to the three main companies making insulin — Eli Lilly, Novo Nordisk and Sanofi — pressing them for answers about the high cost of the crucial diabetes drug.