Romney warns drug execs: 'change is coming'

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

Sen. Mitt RomneyWillard (Mitt) Mitt Romney10 factors making Russia election interference the most enduring scandal of the Obama era The Hill's Morning Report - Is impeachment back on the table? Giuliani: 'Nothing wrong' with campaign taking information from Russians 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 calls Sri Lankan prime minister following church bombings Ex-Trump lawyer: Mueller knew Trump had to call investigation a 'witch hunt' for 'political reasons' The biggest challenge from the Mueller Report depends on the vigilance of everyone 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 GrassleyOn The Money: Inside the Mueller report | Cain undeterred in push for Fed seat | Analysis finds modest boost to economy from new NAFTA | White House says deal will give auto sector B boost The 7 most interesting nuggets from the Mueller report Government report says new NAFTA would have minimal impact on economy 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.