Supporting Statement: Corporations routinely use their platforms to voice support for humanitarian causes and human rights. Unfortunately, many companies provide funds, data, or other resources to advocacy groups leading highly controversial social campaigns — particularly on gender and sexuality— often backing only one side of the debate. Such one-sided giving alienates significant portions of their customers, employees, and shareholders and exposes companies to reputational, market, and legal risk. This includes AbbVie, which has a perfect score1 on the Human Rights Campaign’s Corporate Equality Index. The Human Rights Campaign is a leading driver in getting companies to promote transgender activism. To get 100 points on its Corporate Equality Index,2 a company ostensibly agrees to cover radical adolescent transgender treatments recommended by the World Professional Association for Transgender Health (WPATH),3 a group widely criticized for ideological bias and lack of scientific rigor.4 These treatments include gender transition surgery, crosssex hormone therapy, menstruation suppression, and puberty blockers. Furthermore, a perfect score on the HRC’s Corporate Equality Index implies5 that the company covers highly controversial healthcare practices, including the coverage of “hormone replacement therapies.” This would be a serious concern for any company. But given AbbVie’s status6 as a federal contractor, selling medical supplies and medication to federal agencies, and the Trump administration’s clear stance7 regarding such practices particularly regarding children, this point is doubly concerning for AbbVie investors. Supporting this activism may also alienate AbbVie employees who have religious or other moral objections to supporting these kinds of radical treatments with their healthcare premiums. Given AbbVie’s stated commitment8 to a workplace where “everyone can be themselves at work and when they’re treated with respect and dignity,” it’s only reasonable for investors to ask whether the company’s charitable support upholds this same commitment. 1 https://www.hrc.org/resources/corporations/abbvie-inc. 2 https://reports.hrc.org/corporate-equality-index-2025#scoring-criteria 3 https://www.tandfonline.com/doi/pdf/10.1080/26895269.2022.2100644 4 https://adflegal.org/article/leaked-files-reveal-ethical-concerns-pseudoscience-wpath-standards-care/ 5 https://reports.hrc.org/corporate-equality-index-2025#scoring-criteria / 6 https://www.abbvie.com/join-us/equal-employment-opportunity-employer.html 7 https://www.whitehouse.gov/presidential-actions/2025/01/protecting-children-from-chemical-andsurgical-mutilation/ 8 https://www.abbvie.com/who-we-are/our-principles/equity-equality-inclusion-diversity.html This isn’t merely a political or social point but a matter of brand value. AbbVie is one of the most valuable healthcare brands on earth, with a FactSet-estimated brand value9 exceeding $24 billion, roughly 6 percent of its more than $395 billion market cap.10 AbbVie is a giant of the pharmaceutical industry. As concerns over political neutrality and risk mitigation at America’s largest pharmaceutical companies continue to mount, shareholders are right to ask about how the company’s charitable relationships forward this goal. Many companies, including John Deere, Jack Daniels, Harley Davidson, Lowes, Home Depot, Ford, and Coors, have already refocused their charitable support in a manner that acknowledges the diverse views held by their customers and employees.11 Many have explicitly cut ties with the Human Rights Campaign as part of this effort. AbbVie should do the same.