ABBVIE INC. | Report on Risks of Non-FDA Approved Use of Puberty Blockers at ABBVIE INC.

Status
Omitted
AGM date
Resolution details
Company ticker
ABBV
Lead filer
Bowyer Research
Resolution ask
Report on or disclose
ESG theme
  • Social
ESG sub-theme
  • Other
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Health Care
Company HQ country
United States
Resolved clause
Shareholders request the Board of Directors of AbbVie Inc. conduct an evaluation and issue a report within the next year, at reasonable cost and excluding confidential information, assessing how the Company’s advertisement and promotion of puberty blockers impacts AbbVie’s legal and reputational risks related to providing puberty-blocking drugs for non-FDAapproved uses
Whereas clause
AbbVie is one of the most prominent biomedical companies in the world, employing more than 50,000 people. Because of its status as both an industry leader and a producer of critical medical resources, the Company ought to be carrying out its business practices in a manner primarily aimed at maximizing its service to customers and employees, as well as maximizing its return to shareholders in keeping with its fiduciary duty. And yet, AbbVie’s actions regarding puberty blockers do not match its obligations. Puberty blockers are not approved by the FDA to treat gender dysphoria. Despite this, the Company has faced criticism over its alleged advertisement and promotion of puberty blockers to treat gender dysphoria. As per a 2023 letter from medical professionals and medical organizations sent to the FDA, “When given to children, puberty blockers may pose many additional risks that have not been adequately studied... because puberty blockers are not FDA-approved in children with gender dysphoria, there is no demonstrated benefit of the drugs to justify these risks.” These risks only become more pronounced given the Company’s corporate partnerships. Given AbbVie’s perfect score on the HRC’s Corporate Equality Index, an index that notably requires the provision of puberty blockers to youth as a prerequisite for a perfect score, AbbVie’s actions regarding promotion of puberty blockers is highly concerning, indicating that such actions reflect the Company’s broader corporate social stance.

The over-politicized world of modern business, particularly in the realm of healthcare, is one in which companies owe it to their shareholders to resist letting activist demands guide corporate policy, particularly when such policies involve compliance with federal regulation. AbbVie should avoid needless political controversies and support fundamental freedoms that are of broad societal impact and benefit every American. One way to do this is
through transparency regarding its promotion of puberty blockers, an issue which not only has broad societal impact on the families who make use of AbbVie’s products, but which maintains the potential to create both legal and reputational risk for the Company.

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