a shareholder proposal to take action drug disposal
The first shareholder proposal to date asking companies to take action on drug disposal was voted on last week at the annual meeting of Johnson & Johnson. The proposal received a good showing for a first vote on a new issue, supported by 7.2% of shares voted. Those shares have a market value of $14 billion. SEC rules allow proposals that exceed a minimum threshold of 3% to be re-filed in the following year, so the proposal easily exceeded that benchmark. The next vote will be this Friday, May 6 at AbbVie and the third vote at Merck & Co. will be May 24. More information on our work on pharmaceutical waste can be found here.