Investors in three Covid-19 vaccine makers on Thursday rejected shareholder proposals aimed at broadening global access to the shots.
Pfizer Inc.,
PFE 1.55%
Moderna Inc.
MRNA 0.06%
and
Johnson & Johnson
JNJ 0.75%
had opposed the proposals, saying they already had taken steps to expand access to their vaccines in poorer countries.
Shareholders at Pfizer and Moderna voted against similar resolutions, which asked each company to study the feasibility of transferring technical know-how and patents to allow other manufacturers to produce Covid-19 vaccine doses for low- and middle-income countries.
The resolutions were submitted by antipoverty group Oxfam America and other socially conscious investors who argued the vaccine makers have steered much of their dose supplies to wealthier countries.
The Oxfam-led resolution garnered support from about 27% of Pfizer shares voted and 24% of Moderna shares voted, according to preliminary tallies disclosed during the companies’ respective annual meetings.
Johnson & Johnson said two shareholder proposals related to vaccine access didn’t pass in votes tallied at its annual meeting. The company didn’t immediately release the vote count.
Dr.
Tedros Adhanom Ghebreyesus,
director-general of the World Health Organization, introduced Oxfam’s proposal in a prerecorded statement during Moderna’s annual meeting, which like the other companies’ meetings was held virtually because of the Covid-19 pandemic.
WHO has sponsored a vaccine manufacturing hub in South Africa that is trying to replicate Moderna’s vaccine, and Dr. Tedros said Moderna has declined to share technical know-how for the effort.
“We urge Moderna to share technology and know-how with the WHO hub and commit to not enforcing patents for Covid-19 and other essential vaccines in countries hosting the WHO hub and spokes,” Dr. Tedros said.
Moderna Chairman
Noubar Afeyan
said the company has expanded its manufacturing capacity and is committed to providing vaccine doses globally. He said some lower-income regions have declined shipments of doses. The company also has pledged not to enforce its vaccine-related patents in more than 90 lower- and middle-income countries.
J&J shareholders were asked to vote on a proposal asking the company to report on how J&J set policies affecting access to its Covid-19 vaccine, specifically pricing. The proposal asked the company to report on whether its receipt of financial support from the U.S. government affected those policies.
J&J shareholders also voted on a second proposal, which asked the company to publish a report on the public health costs created by limited sharing of J&J’s Covid-19 vaccine technologies.
J&J said about 70% of its global vaccine supply in 2021 was made available—either directly or through government donations—to low- and middle-income countries. J&J said it will continue to focus on vaccine access in countries with the greatest need.
Pfizer said that one billion of the three billion Covid-19 vaccine doses it manufactured in 2021 were for low- and middle-income countries, and it remains committed to ensuring broad access to the shot.
Shareholders meeting stock ownership criteria may submit proposals on various aspects of a company’s governance, in addition to routine matters that companies put to a vote, such as electing directors and ratifying auditors.
Write to Peter Loftus at [email protected]
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