{"id":431863,"date":"2024-07-17T09:00:37","date_gmt":"2024-07-17T13:00:37","guid":{"rendered":"https:\/\/comptroller.nyc.gov\/?p=431863"},"modified":"2024-07-18T07:47:34","modified_gmt":"2024-07-18T11:47:34","slug":"nyc-comptroller-presses-pharmacy-giants-to-provide-abortion-medication-or-risk-losing-investor-confidence","status":"publish","type":"post","link":"https:\/\/comptroller.nyc.gov\/newsroom\/nyc-comptroller-presses-pharmacy-giants-to-provide-abortion-medication-or-risk-losing-investor-confidence\/","title":{"rendered":"NYC Comptroller Presses Pharmacy Giants To Provide Abortion Medication or Risk Losing Investor Confidence"},"content":{"rendered":"<p><b><span data-contrast=\"none\">New York, NY\u202f<\/span><\/b><span data-contrast=\"none\">\u2014 At a time when abortion access is increasingly under threat across the country, New York City Comptroller Brad Lander urged Walmart, Costco, Kroger, Albertsons, and McKesson to immediately begin dispensing the abortion medication mifepristone. In <\/span><a href=\"https:\/\/comptroller.nyc.gov\/wp-content\/uploads\/2024\/07\/CBL-Mifespristone-letter_Walmart-7.15.24-signed.pdf\"><span data-contrast=\"none\">letters<\/span><\/a><span data-contrast=\"none\"> to their CEOs sent\u202f<\/span><span data-contrast=\"none\">yesterday<\/span><span data-contrast=\"none\">, Comptroller Lander warns the companies risk investor confidence if they do not provide timely and accessible reproductive healthcare. New York City\u2019s pension systems own over $1.32 billion in total shares of the companies.<\/span><span data-ccp-props=\"{"134233117":false,"134233118":false,"201341983":0,"335551550":1,"335551620":1,"335557856":16777215,"335559685":0,"335559737":0,"335559738":0,"335559739":0,"335559740":240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cBy failing to become certified mifepristone dispensers, these pharmacy giants put both women\u2019s reproductive health care and investors money at risk,\u201d <\/span><b><span data-contrast=\"none\">Comptroller Brad Lander<\/span><\/b><span data-contrast=\"none\"> said of the letters. \u201cThe boards of Costco, Walmart, Kroger, Albertsons, and McKesson should<\/span><span data-contrast=\"auto\"> follow CVS and Walgreens and<\/span> <span data-contrast=\"auto\">immediately take the necessary steps to receive certification to dispense the medication mifepristone in states where it is legal. Making mifepristone available benefits customers and employees, increases sales, and generates long-term shareholder value.\u201d\u00a0<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The letters emphasize the well-established safety and efficacy of mifepristone, urging the Boards to ramp up efforts to become certified and start dispensing. This move would follow the lead of industry giants CVS and Walgreens, that committed to providing access to medical abortion through their pharmacies. These four companies also faced increasing pressure from 54 U.S. House members in a <\/span><a href=\"http:\/\/letter\/\"><span data-contrast=\"none\">letter<\/span><\/a><span data-contrast=\"none\"> sent July 2 to their boards, urging the companies to take action to begin dispensing the medication.\u202f<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Comptroller Lander cautions the companies on potential financial risk with this delay. Investor \u201cconcerns include the company’s responsiveness to a growing market opportunity, its mitigation of potential reputational risks, and its commitment to maximizing sales and long-term shareholder value,\u201d\u202f<\/span><b><span data-contrast=\"none\">Comptroller Lander<\/span><\/b><span data-contrast=\"none\">\u202fwrote in the letter.\u202f<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The New York City Comptroller serves as investment advisor, custodian, and trustee for the five New York City public pension funds. New York City\u2019s pension funds have over $270 billion assets under management with the following breakdown of shares at each of the five companies as of May 31, 2024:<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"\uf0b7","469777815":"hybridMultilevel"}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"none\">7.98 million shares in Walmart valued at $524.93 million<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"\uf0b7","469777815":"hybridMultilevel"}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"none\">548,103 shares in Costco valued at $443.9 million<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"\uf0b7","469777815":"hybridMultilevel"}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"none\">2.22 million shares in Kroger valued at $116.45<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"\uf0b7","469777815":"hybridMultilevel"}\" aria-setsize=\"-1\" data-aria-posinset=\"4\" data-aria-level=\"1\"><span data-contrast=\"none\">715,769 shares in Albertsons valued at $14.77 million<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{"335552541":1,"335559685":720,"335559991":360,"469769226":"Symbol","469769242":[8226],"469777803":"left","469777804":"\uf0b7","469777815":"hybridMultilevel"}\" aria-setsize=\"-1\" data-aria-posinset=\"5\" data-aria-level=\"1\"><span data-contrast=\"none\">333,563 shares in McKesson valued at $33.85 million<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"none\">Read the letters to <\/span><a href=\"https:\/\/comptroller.nyc.gov\/wp-content\/uploads\/2024\/07\/CBL-Mifespristone-letter_Walmart-7.15.24-signed.pdf\"><span data-contrast=\"none\">Walmart<\/span><\/a><span data-contrast=\"none\">, <\/span><a href=\"https:\/\/comptroller.nyc.gov\/wp-content\/uploads\/2024\/07\/CBL-Mifespristone-letter_Costco-7.15.24_signed.pdf\"><span data-contrast=\"none\">Costco<\/span><\/a><span data-contrast=\"none\">, <\/span><a href=\"https:\/\/comptroller.nyc.gov\/wp-content\/uploads\/2024\/07\/CBL-Mifespristone-letter_Kroger-7.15.24-signed.pdf\"><span data-contrast=\"none\">Kroger<\/span><\/a><span data-contrast=\"none\">, <\/span><a href=\"https:\/\/comptroller.nyc.gov\/wp-content\/uploads\/2024\/07\/CBL-to-Albertsons-Mifespristone-7.15.24-signed.pdf\"><span data-contrast=\"none\">Albertsons<\/span><\/a><span data-contrast=\"none\">, and <\/span><a href=\"https:\/\/comptroller.nyc.gov\/wp-content\/uploads\/2024\/07\/CBL-to-Mckesson-Mifespristone-7.15.24-signed.pdf\"><span data-contrast=\"none\">McKesson<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{"201341983":0,"335557856":16777215,"335559739":0,"335559740":240}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"New York, NY\u202f\u2014 At a time when abortion access is increasingly under threat across the country, New York City Comptroller Brad Lander urged Walmart, Costco, Kroger, Albertsons, and McKesson to immediately begin dispensing the abortion medication mifepristone. In letters to their CEOs sent\u202fyesterday, Comptroller Lander warns the companies risk investor confidence if they do not… <a href=\"https:\/\/comptroller.nyc.gov\/newsroom\/nyc-comptroller-presses-pharmacy-giants-to-provide-abortion-medication-or-risk-losing-investor-confidence\/\"><strong>Read More<\/strong><\/a>","protected":false},"author":43,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,190],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/posts\/431863"}],"collection":[{"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/users\/43"}],"replies":[{"embeddable":true,"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/comments?post=431863"}],"version-history":[{"count":2,"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/posts\/431863\/revisions"}],"predecessor-version":[{"id":432009,"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/posts\/431863\/revisions\/432009"}],"wp:attachment":[{"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/media?parent=431863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/categories?post=431863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/comptroller.nyc.gov\/wp-json\/wp\/v2\/tags?post=431863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}