Amgen Inc: Alignment of Stated Corporate Values with Political and Electioneering Expenditures
WHEREAS: The political expenditures of Amgen, Inc. ("Amgen") appear to be misaligned with the company’s publicly stated values and vision.
Amgen contributes to The Pharmaceutical Research and Manufacturers of America (“PhRMA”), which supports numerous organizations opposing efforts to reform drug pricing, despite a stated commitment “to ensure that patients have affordable access to medicines.”
Amgen has a number of initiatives to recruit and promote women in the workplace and more than half of its workforce is female. Yet, in the 2016-2020 election cycles, Amgen and its employee Political Action Committees (“PACs”) donated at least $1,425,400 to politicians and political organizations working to weaken women’s access to reproductive health care.
Amgen has committed to achieving carbon neutrality, with Robert A. Bradway, Chairman and Chief Executive Officer stating “[w]e understand the profound impact that climate change is having on human health around the world.” Yet, the company is a member of the U.S. Chamber of Commerce, which has consistently lobbied to roll back specific U.S. climate regulations and promote regulatory frameworks that would slow the transition towards a low carbon emissions energy mix. This raises questions about whether Amgen is also supporting electioneering efforts that conflict with its environmental commitments.
Amgen pledged to reevaluate its donation criteria after January 6th, with Mr. Bradway stating “Free and fair elections and a peaceful transfer of power are hallmarks of the American system of government. That system came under attack.” Yet, Amgen has continued to directly support at least three politicians who voted to overturn the election results.
Proponents believe that Amgen should establish policies and reporting systems that minimize risk to the firm's reputation and brand by addressing possible missteps in corporate electioneering and political spending that contrast with its stated healthcare and environmental objectives.
BE IT RESOLVED: Shareholders request that Amgen publish an annual report, at reasonable expense, analyzing the congruence of its political, lobbying, and electioneering expenditures during the preceding year against its publicly stated company values and policies, listing and explaining any instances of incongruent expenditures, and stating whether the identified incongruencies will lead to a change in future expenditures or contributions.
SUPPORTING STATEMENT: Proponents recommend, at management’s discretion, that the report also include an analysis of risks to our company's brand, reputation, or shareholder value, of expenditures in conflict with publicly stated company values. “Expenditures for electioneering communications" means spending, from the corporate treasury and from its PACs, during the year, directly or through third parties, in printed, internet or broadcast communications, which are reasonably susceptible to interpretation as being in support of or in opposition to a specific candidate.
Resolution Details
Company: Amgen Inc
Lead Filers:
As You Sow
Year: 2022
Filing Date:
December 2021
Initiative(s): Sexual and Reproductive Health
Status: Resolution Withdrawn, Agreement Reached