Pharma Companies Block Investor Requests for Greater Transparency on Drug Pricing

Interfaith Center on Corporate Responsibility ------ Long-term shareholders in major U.S. drug companies today expressed outrage that their attempts to elicit greater transparency around excessive price increases on critical drugs is being actively thwarted by management. The investors are members of the Interfaith Center on Corporate Responsibility, a coalition of faith-and values-based shareholders who press for improved corporate social responsibility and have been engaging pharmaceutical companies to foster greater access and affordability of medicines. Arguing that dramatic price increases are having a serious impact on public health, ICCR members filed shareholder proposals with major drug companies this fall seeking greater transparency about price increases for their top selling branded prescription drugs. The companies have notified the shareholders that they filed “no action” requests with the SEC, to prevent the proposals from appearing on company proxies and being voted on at their annual shareholder meetings. To learn more click on the picture below to read the article.