Romney warns drug execs: 'change is coming'

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

Sen. Mitt RomneyWillard (Mitt) Mitt RomneyStatesmen seek bipartisan solutions to big challenges Georgia ready for unpredictable Senate race Impeachment can't wait 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 TrumpTrump says he will 'temporarily hold off' on declaring Mexican drug cartels as terror organization House Judiciary Committee formally receives impeachment report Artist behind gold toilet offered to Trump sells banana duct-taped to a wall for 0,000 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 — Presented by Johnson & Johnson – House progressives may try to block vote on Pelosi drug bill | McConnell, Grassley at odds over Trump-backed drug pricing bill | Lawmakers close to deal on surprise medical bills GOP senators request interview with former DNC contractor to probe possible Ukraine ties Congressional leaders unite to fight for better future for America's children and families 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.