Clearwater, FL — Pro-life organizations, Children of God for Life and Human Life International charged today that pharmaceutical giant, Merck & Co. has betrayed their stockholders by refusing to include language in Shareholder Proposal No. 7. that would have revealed:
By using aborted fetal cell lines in vaccine production, Human Life International, President Rev. Thomas J. Euteneuer, who purchased sufficient shares of Merck stock demanded fellow shareholders be informed that Merck has violated its own Statement on Values, which states in part, “We are committed to the highest standards of ethics and integrity”.• An organized boycott of all Merck products
• A resolution by the Catholic Medical Association to use alternatives to their vaccines cultivated on aborted fetal tissue and
• Instruction by investment counseling organization, Pro Vita Advisors, that investors divest their Merck stock.
In a 5-page letter to the SEC, Merck pleaded their case to keep the entire resolution from becoming public, stating that the use of aborted fetal cell lines falls under ordinary business and therefore should be excluded from the proxy vote. In addition, Merck refused to acknowledge that they were profiting from the destruction of human life, stating there was no financial evidence to prove it. Merck's net income for 2002 was $7,149.5 million, with $34.6 million in viral vaccine sales.
While the SEC agreed to allow the information to be included in this year’s annual meeting, Merck's attorneys were able to successfully remove most of the critical language.
What they have done is deny their stockholders the right to vote on the true language of the resolution, stated Children of God for Life's Executive Director Debi Vinnedge, who has organized the boycott and the Campaign for Ethical Vaccines with over 475,000 signatures.
Rev Euteneuer agreed. Watch for your proxy cards in the mail and if their practice of using aborted fetal cell lines offends you, vote in favor of Resolution 7, to appoint a special committee linking executive compensation with the Company's ethical performance.
“What went in and what came out of that resolution are quite different”, said Vinnedge. “While we are pleased that the SEC agreed to provide stockholders with the information that aborted fetal cell lines are used in Merck's vaccines, we also believe they should be aware of boycotts, investment warnings and the resolution by the Catholic Medical Association to use alternatives. In effect, such actions by several organizations and parents to boycott all Merck products and use alternatives may eventually decrease their sales numbers and devalue the stock”.
To review the Merck Proxy statement being mailed to shareholders for consideration at the upcoming meeting, go to: Stockholder Proposal Concerning Ethical and Social Performance of the Company
(This article courtesy of Steven Ertelt and the Pro-Life Infonet email newsletter. For more information or to subscribe go to www.prolifeinfo.org or email infonet@prolifeinfo.org.)
