Abbvie Inc
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Health Care : Biotechnology | Large Cap Value
Company profile

AbbVie Inc. is a research-based biopharmaceutical company, which is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. It offers products in various therapeutic categories, including immunology products, which include Humira, Skyrizi and Rinvoq; oncology products, which include Imbruvica and Venclexta; aesthetics products that include Botox Cosmetic, Juvederm Collection and others; neuroscience products, such as Botox Therapeutic, Vraylar, Duopa and Duodopa, and Ubrelvy; eye care products consists of Lumigan, Alphagan and Restasis; women's health products include Lo Loestrin, Orilissa and others; and other products, which includes Mavyret, Creon, Lupron, Linzess and Synthroid. Its products are sold to wholesalers, government agencies, health care facilities and independent retailers. It also discovers and develop antibody medicines that target difficult-to-drug disease-causing proteins, such as G protein-coupled receptors (GPCRs).

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Apple will examine commitment to workers' rights after shareholder push

3:28 pm ET January 13, 2023 (MarketWatch)

By Levi Sumagaysay

Tech giant agrees to formal assessment of its policies after resolution seeking independent report qualified for proxy vote

Apple Inc. is promising to assess its policies around workers' rights, including freedom of association and collective bargaining, after a push from shareholders.

The tech giant, which had been facing a shareholder resolution on the issue because of accusations it is engaging in union-busting, said in its proxy filed with the Securities and Exchange Commission on Thursday that it plans to conduct the assessment by the end of the year.

"At Apple (AAPL), we have long been committed to respecting human rights," the company's proxy says.

The shareholders who had submitted a resolution in September had asked for an independent assessment, and withdrew it after talks with the company.

Apple's mention of the issue in its proxy does not include the word "independent," though the coalition of shareholders said Friday that is what they expect. The company's language: "We will conduct an assessment on Apple's efforts to comply with its Human Rights Policy."

The coalition of investors, which includes New York City Retirement Systems, represents approximately 53 million shares valued at $7 billion of Apple holdings, according to a spokeswoman for the New York City Comptroller's Office.

New York City Comptroller Brad Lander said in a statement that he hopes the company "will heed the findings of the third-party assessment and take concrete steps to adopt a genuine neutrality commitment that respects the rights of its workers."

An Apple spokesman did not return a request for comment.

Apple has been hit with various National Labor Relations Board complaints over its behavior related to attempted organizing at its store, though this week the company reportedly began negotiating with workers at its first unionized store in Towson, Md.

The shareholder resolutions that investors will vote on, all of which the company opposes, according to the proxy:

Apple's annual shareholder meeting will be held March 10.

-Levi Sumagaysay


(END) Dow Jones Newswires

January 13, 2023 15:28 ET (20:28 GMT)

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