Column: The Catholic Investor
In my last post, I wrote about the change made in January by the Food & Drug Administration (FDA) to its rules regarding the dispensing of Mifepristone, the chemical abortion drug, and the intentions of Walgreens and CVS to distribute it.
I am writing today with an update of that article.
21 States said “No!”
Interestingly, there are 21 states with Republican attorneys general that have warned Walgreens and CVS, along with other companies that have pharmacy operations, that the distribution of the abortion drug Mifepristone by their pharmacies would be in violation of the law.
Six times greater risk
A study by the American College of Obstetrics and Gynecologists found that chemical abortions were six times more likely to result in complications than first-trimester medical abortions.
Kroger and Rite Aid
Unfortunately, it appears now that some of those other pharmacies have also decided to sell Mifepristone.
Costco, the warehouse retailer, was one of the companies sent the warning from the attorneys general but does not appear to have made any statement regarding the drug.
California’s Gov. Newsom outrage
Walgreens has now said it will not sell Mifepristone in the 21 states that have indicated their opposition.
In reaction to that response by Walgreens, California’s governor has said the state will no longer do business with the company.
Catholic Investing Strategies on this matter
Our company has placed Walgreens, CVS, and Rite Aid on our exclusion list and removed them from client portfolios.
Walgreens and CVS are both members of the S&P 500 Index which means that they are very widely held in mutual and exchange traded funds.
A decision on Costco waits on what action the company may take on the issue.
We advise readers to review their portfolios for the companies planning to distribute the death dealing drug and to avoid them.
- 20 Attorneys General warn CVS, Walgreens against abortion pills in their states – Thomas Carroll, CFA, Catholic Business Journal
Thomas "Tom" Carroll, CFA, is the president of Catholic Investment Strategies, a position in which he has passionately enjoyed serving since 2012. Prior to this position,... MORE »