Minnesota Pension Fund Blasts Pfizer

March 4, 2004
Minnesota's state pension fund is demanding that Pfizer halt its efforts to cut off supplies to Canadian pharmacies that sell to Americans. Gov. Tim Pawlenty called it a new front in a battle against pharmaceutical companies that charge high prices to Americans and then thwart efforts by states to shop around.

Pawlenty said would try to get other governors to join the effort.

Minnesota's State Board of Investment owns about 12.8 million shares of Pfizer stock, worth about $476 million. The company's total value is about $280 billion.

The resolution demands that Pfizer stop its campaign to cut off supplies of its products to Canadian wholesalers and pharmacies that sell to Americans.

Minnesota has launched its own Web site to help the state's residents find Canadian pharmacies that it deems safe and reputable.

"Pfix Pfizer"
The Minnesota Senior Federation said its board will probably vote next week to lead a nationwide "Pfix Pfizer" campaign. The federation said the campaign would most likely include picketing, a boycott of some Pfizer products and support of a stockholder resolution critical of the company's practices.

Meanwhile, one of two Canadian wholesalers that was cut off last week by giant drug manufacturer Pfizer admitted that it mistakenly supplied drugs to two of the Internet pharmacies on Pfizer's list of forbidden customers and said it would ask for reinstatement.

Prairie Supply Co-op had earlier denied selling Pfizer drugs to the black-listed pharmacies.

Back to the top |

Terms of Use Your use of this site constitutes acceptance of the Terms of Use

Advertisements on this site are placed and controlled by outside advertising networks. ConsumerAffairs.com does not evaluate or endorse the products and services advertised. See the FAQ for more information.

Company Response Welcome If complaints about your company appear on our site, we welcome your response. Please see the Response Form for more information.

For more information, see the FAQ and privacy policy. The information on this Web site is general in nature and is not intended as a substitute for competent legal advice.  ConsumerAffairs.com Inc. makes no representation as to the accuracy of the information herein provided and assumes no liability for any damages or loss arising from the use thereof. 

Copyright © 2003-2009 ConsumerAffairs.com Inc.  All Rights Reserved.    The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission.