Amid controversy over equitable distribution of Covid-19 vaccines, a large coalition of socially minded investor groups has filed shareholder proposals urging large drug makers to take various steps that could ultimately widen access to their medicines in the U.S. and elsewhere.
The effort reflects ongoing frustration with the pharmaceutical industry over business practices that have often made it difficult for patients to obtain treatments, according to Meg Jones-Monteiro, program director for health equity at the Interfaith Center on Corporate Responsibility, a 300-member organization with combined assets of over $4 trillion.
“There have been changes here and there, but mostly little changes. I don’t think we’ve seen substantial change in the actual business model or behaviors,” she told us. “And given what we’ve seen happen with Covid — the opportunity to do better with vaccines and the impact these could have across the globe — they just haven’t moved. They can do better.”
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