Pfizer Shareholders Reject Political Spending, Lobbying Bid (1)

Pfizer investors dismissed a proposal that would have required the drugmaker to disclose how its political donations square with its publicly stated values, at the company’s annual meeting Thursday.

The proposal, introduced by the San Francisco-based Tara Health Foundation, asked the company to publish an annual report that details how Pfizer’s social goals like gender equality conform with its lobbying costs and political contributions.

“Pfizer’s political expenditures appear to be misaligned with the company’s stated values and public policy priorities, threatening the company’s bottom line if it leads to investor action or consumers taking their business elsewhere,” the foundation wrote. ...