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.

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