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Drug company investors set to vote on executive pay, drug prices

Jaclyn Jaeger | April 6, 2018

A handful of drug makers have lost their battle with investors who had submitted proposals seeking more information on the potential link between executive compensation packages and rising drug prices.

Despite opposition from AbbVie, Amgen, Biogen, Bristol-Myers Squibb, and Eli Lilly, the SEC has ruled that the shareholder resolutions will appear on company ballots. Shareholders will now be able to vote on these resolutions at company annual meetings this spring. 

The investors are members of the Interfaith Center on Corporate Responsibility (ICCR), a coalition of 300 member-organizations, who have engaged the companies for several years on the issue of escalating drug prices, the burden these increases present for society and the financial and reputational risks they present for companies and their investors. The five resolutions were supported by a total of 51 institutional investors. 

Kathryn McCloskey of United Church Funds and lead filer of the proposal...

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