A group of 300 institutional investors, including many with ties to religious organizations, is waging a new campaign to press drugmakers to justify their price increases.
The investors, members of the New York-based Interfaith Center on Corporate Responsibility, are asking 17 drug companies—including Johnson & Johnson, Pfizer Inc. and Merck & Co.—to be more transparent about when and why they raise prices.
The investors, which own shares in the drug companies being targeted, say rising costs are putting prescription drugs out of reach for many patients. That could lead to long-term challenges for the companies, they say.
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