GLOBAL - Shareholder value in pharmaceuticals is under threat if companies do not confront the health crisis in developing nations. Some 11 leading institutional investors across Europe, representing about £600bn in assets, have issued a statement to major pharmaceutical companies on how they should respond to global crises, such as Aids/HIV. They warn the industry that failure to defend drug patents may result in damage to its reputation, as well as profitability - similar to the tobacco industry.
Investors, including ISIS Asset Management, the Universities Superannuation Scheme, Legal & General and Schroder in the UK and PGGM, the second largest Dutch pension fund by assets, have signed the...
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