Romney warns drug execs: 'change is coming'

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

Sen. Mitt RomneyWillard (Mitt) Mitt RomneySenate Republicans muscle through rules for Trump trial Senate blocks push to subpoena Bolton in impeachment trial Impeachment trial begins with furor over rules 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.

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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 TrumpRouhani says Iran will never seek nuclear weapons Trump downplays seriousness of injuries in Iran attack after US soldiers treated for concussions Trump says Bloomberg is 'wasting his money' on 2020 campaign 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 GrassleyOvernight Health Care: Justices won't fast-track ObamaCare case before election | New virus spreads from China to US | Collins challenger picks up Planned Parenthood endorsement Mnuchin warns UK, Italy of tariffs if digital tax plans are implemented GOP can beat Democrats after impeachment — but it needs to do this one thing 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.