Investors Resist NYC's Push for Pharmacies to Sell Abortion Pill

Major investors in pharmacy and grocery chains are resisting calls from New York City Comptroller Brad Lander to expand the sale of mifepristone, an abortion pill that has become a focal point in the ongoing debate over reproductive health. A coalition of hundreds of investors and 38 financial managers, holding nearly $173 million in stocks for companies like Costco, Albertsons, Kroger, McKesson, and Walmart, responded to Lander's threat to withdraw $1.32 billion in investments if the chains do not begin dispensing the drug. Mifepristone, approved by the FDA in 2000, is used to terminate pregnancies by blocking progesterone, followed by a second drug, misoprostol, to induce contractions. The drug's accessibility was expanded during the COVID-19 pandemic when the FDA removed in-person screening requirements, allowing it to be shipped and sold in pharmacies. However, the legal status of mifepristone remains contentious, as highlighted by a recent Supreme Court case that dismissed challenges to its approval on procedural grounds, leaving the legality of its distribution unresolved. Financial advisers caution that the current legal framework surrounding mifepristone is precarious, with potential prosecution under the Comstock Act of 1873, which prohibits mailing abortion-related materials. Additionally, many states have enacted gestational age restrictions, complicating the landscape further. As of 2023, mifepristone was involved in nearly 643,000 abortions in the U.S., raising concerns about the drug's safety, with the FDA noting that about 1 in 25 women may experience severe complications.