Investors at leading pharmaceuticals firms have filed resolutions asking for formal human rights due diligence (HRDD) assessments to ensure companies are acting to increase the access and affordability of their medicines. The proposals are expected to be voted on at the 2025 AGMs of AbbVie, Eli Lilly, Gilead, Johnson & Johnson, Merck and Moderna this coming spring. They are part of an ongoing campaign by investors and civil society organisations to encourage leading firms in the sector to reduce the cost of branded medicines in developed and developing markets. The call for an HRDD process stems from Article 25 of the UN Universal Declaration on Human Rights, which guarantees adequate healthcare and the right to security during sickness. The firms have been accused of deploying a range of tactics to maintain high margins on their most popular products, including use of multiple patents to extend periods of exclusivity and limit availability of generic, lower-cost alternatives. In November, the Access to Medicine Foundation and investor signatories called on pharmaceutical companies to improve access to medicines in low- and middle-income countries by accelerating voluntary licence agreements. “There is a fundamental misalignment with Gilead’s stated mission of ‘Building a Healthier World for All People’ and some of its rather cynical and exploitative pricing practices,” said Lydia Kuykendal of Mercy Investment Services, which filed a proposal calling for a human rights policy at the firm. Filing organisations include members of the Interfaith Center on Corporate Responsibility, a coalition of more than 300 institutional investors representing over US$4 trillion AUM.
