Since 2007, Tri-State CRI members have taken the need for health care reform to the corporate arena. Long before the passage of the Affordable Care Act, we called on companies to adopt principles on health care reform and support access to quality health care that is
- affordable to individuals and families
- affordable and sustainable for society.
Ever since, we have held shareholder dialogues with companies on what they are doing to advance the goals of health reform – whether they are pharmaceutical, medical device or insurance companies, or large restaurant and retail companies who employ many low-wage workers, such as Walmart, Target and McDonalds.
2016-2017 Drug Pricing Engagement Strategy
For decades, ICCR members have been pressing drug companies for greater disclosures on pricing structures as a way to promote greater access to medicines. A lack of transparency around how drug prices are determined has led to an industry-wide ethos of “whatever the market will bear”, which has led to these recent drug-pricing scandals.
For the 2017 proxy season, ICCR’s Domestic Health Group has developed a shareholder proposal that asks pharmaceutical companies to: 1) disclose the rates of price increases year-to-year of their top selling branded prescription drugs between 2010 and 2016; 2) disclose the rationale and criteria used for these price increases; and 3) assess the legislative, regulatory, reputational and financial risks they represent for our company.
The following companies will be receiving the proposal: AbbVie; Amgen; Biogen; Bristol-Myers Squibb; Eli Lilly; Gilead; Johnson & Johnson; Merck; Pfizer; Regeneron and Vertex.