In yet another rebuke to the pharmaceutical industry, nearly 22 percent of AbbVie (ABBV) shareholders voted in favor of a proposal that requires the drug maker to compile reports about the risks created by high prices and examine the extent to which pricing strategies propel executive compensation.
This marks the second time this week that a notable portion of shareholders in a big drug company have signaled that rising prices for medicines are a concern. On Tuesday, 22 percent of Bristol-Myers Squibb (BMY) stockholders also voted in favor of such a proposal.
The issue has put the entire industry on the defensive as a growing number of Americans complain their medicines are unaffordable. Although Congress has failed to act, next week President Trump will give a speech on drug pricing to outline efforts his administration will take to mitigate the problem.
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