UCF, Investors Want Fair and Transparent Drug Pricing
Members of the Interfaith Center on Corporate Responsibility (ICCR), including United Church Funds, will be filing shareholder resolutions with several pharmaceutical companies this year calling for disclosure of the reasons for and risks of increasing the prices of pharmaceuticals. In the wake of Mylan’s astronomical price increase on the EpiPen and other gauging incidents, more consumers are concerned with corporations’ rationale for increases. Socially responsible investors couldn’t agree more – poor pricing decisions have the potential impact of negatively influencing shareholder value. For example, Mylan was ordered to pay $465M to settle allegations that Medicaid paid too much for the EpiPen. Information on this shareholder campaign can be found on the ICCR website here.