Jim Greenwood, the CEO of the drug industry lobby Biotech Innovation Organization, will step down at the end of 2020, according to Politico.
Mr. Greenwood served as the Washington, D.C.-based lobbying group's CEO for 15 years and his departure comes as the pharmaceutical industry faces significant pressure from Washington to lower drug prices. However, his timing still ensures stability for the lobby through the 2020 election.
Before joining BIO in 2005, Mr. Greenwood served as a Representative of Pennsylvania's 8th district. He also served as subcommittee chair of the House Energy and Commerce Oversight Subcommittee from 2001 to 2004.
Mr. Greenwood told Politico he may work on environmental or climate change issues after leaving BIO.
The lobby doesn't yet know who will replace him, but board member Ron Cohen told Politico the new CEO will need to focus on making drugs affordable and accessible and improving the industry's reputation.
BIO represents drugmakers ranging from pharma giants like Pfizer to small startups with no approved medicines.
Read the full article here.
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