CEO of drug industry lobbying group announces retirement

The head of the Biotech Innovation Organization (BIO) will leave the helm of the biotechnology trade group at a critical time for the industry. 

BIO President and CEO Jim Greenwood announced on Tuesday that he will step down at the end of 2020, Politico first reported.

Greenwood has led the drug industry group for 15 years and leaves at a time of increased pressure on Congress and the White House to act on high prescription prices.

“The pharmaceutical industry is at a reputational bottom,” Greenwood told Politico.

{mosads}BIO represents 1,000 biotechnology companies and organizations in the U.S. and more than 30 other countries. Its membership includes a larger and more diverse group of companies than the Pharmaceutical Research and Manufacturers of America. 

Major biotechnology companies Amgen, Gilead, Novo Nordisk, Allergan, Pfizer and Merck are all BIO members.

Greenwood was named president and CEO of the group in 2005 after he retired from Congress. He served for six terms and represented Pennsylvania. 

Greenwood, a Republican, was chairman of the Energy and Commerce Committee Subcommittee on Oversight and Investigation. Before Congress, he served in the Pennsylvania Senate.