Romney warns drug execs: 'change is coming'

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

Sen. Mitt RomneyWillard (Mitt) Mitt RomneyJudge seeks copy of order commuting Roger Stone sentence Top Mueller prosecutor: 'We could have done more' in Russia investigation Chris Christie: I wouldn't have commuted Roger Stone sentence 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.

ADVERTISEMENT

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 TrumpWayfair refutes QAnon-like conspiracy theory that it's trafficking children Stone rails against US justice system in first TV interview since Trump commuted his sentence Federal appeals court rules Trump admin can't withhold federal grants from California sanctuary cities 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 GrassleyTrump administration to impose tariffs on French products in response to digital tax Big Ten moves to conference-only model for all fall sports Republicans considering an outdoor stadium for Florida convention: report 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.