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Dramatic Price Increases in Brand Name Drugs Spur Shareholders to Action
Date:4/27/2011

dialogue with pharmaceutical companies for decades on issues of access and affordability.

Cathy Rowan, consultant to Trinity Health, said, "Many of us represent health care systems with missions to enhance the health of the communities they serve.  We would like to see the pharmaceutical companies in which we invest have access to medicines at the heart of their business strategies."

"This isn't about charity or foregoing a profit," said Laura Berry, Executive Director of ICCR. "Our members expect that the companies they invest in espouse policies, pricing and otherwise, that promote both justice and sustainability while enhancing shareholder value. The absence of clear and reasonable pricing policies is neither just for consumers nor sustainable as a business practice."

Barbara Aires, coordinator, Corporate Responsibility, the Sisters of Charity of St Elizabeth, said, "It's hard to justify these increases in this economy. More and more, people have to choose between buying groceries and picking up their prescriptions and when people can't afford to take their medicines they get sick, straining an already fragile health care system. Our company needs a rational pricing policy that keeps branded products affordable and accessible to consumers yet will remain competitive to generics when patents expire."

Contact:
Susana McDermott
Director of Communications, ICCR
212-870-2938
smcdermott@iccr.org

About the Interfaith Center on Corporate Responsibility (www.iccr.org):

Currently celebrating its 40th year, ICCR is the pioneer coalition of active shareholders who view the management of their investments as a catalyst for change.  Its 300 member organizations with over $100 billion in AUM have an
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SOURCE Interfaith Center on Corporate Responsibility
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