Walmart Among Pharmacies Facing NYC Comptroller Push on Abortion

Walmart Inc., Costco Wholesale Corp., Kroger Co., Albertsons Cos Inc., and McKesson Corp. should immediately begin taking measures to distribute the abortion medication mifepristone, according to the overseer of New York City’s pension funds.

New York City Comptroller Brad Lander cautioned against the financial risks associated with a delay. Pharmacies that do not dispense abortion pills risk losing investor confidence, Lander warned in letters to the CEOs of the five companies Monday.

Lander oversees New York City’s pension funds, which collectively hold more than $1.32 billion in shares of Walmart, Costco, Kroger, Albertsons, and McKesson. Representatives from the companies did not immediately respond to requests for comment.

“[Investor] concerns 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,” Lander wrote in the letters made public Wednesday.

Both CVS Health Corp. and Walgreens Boots Alliance Inc. have received pharmacy certification and currently dispense the medication in states where it is legal, Lander said.

The comptroller’s request comes after Democratic lawmakers called on the retail companies to begin dispensing the drug.

Lander cited a brief by thousands of medical professionals that compares mifepristone’s safety profile to ibuprofen, and included a study from Global Markets Insight Inc. that valued the abortion pill market at over $24.4 billion.

Investors have voted on dozens of abortion-related proposals in the past few years, with shareholder support for the bids dropping 50% between 2022 and 2023.