UCF Calls on All Shareholders to Support Right-Aligning Exec Bonuses Away From Drug Price Hikes

April 3, 2019

In preparation for the upcoming AbbVie annual meeting, United Church Funds is calling on all shareholders in the company to support a proposal UCF filed seeking that the company disclose how they consider the risks of executive incentive plans being too closely aligned to drug price increases. AbbVie’s blockbuster drug Humira’s price has increased 144% since 2012. As if that’s not problematic enough, a significant portion of the company’s executive incentive structure relies on Humira sales – with no indication of how increasing the drug’s cost impacts the bonuses. This black box leads some investors to believe that the executives are being encouraged to act without enough concern for the common good and public health. UCF looks forward to the company’s May 3, 2019 meeting, and hopes that shareholders understand the need for more thought from our AbbVie leadership. PROXY MEMORANDUM AbbVie

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