AZ spends too much on political donations and exec awards, says advisory group
Anglo-Swedish drug major AstraZeneca shareholders are being recommended to oppose its 2008 report and accounts as it is making too many political donations in the USA and awarding too much compensation to executives, according to an advisory group quoted by the Wall Street Journal. Pensions Investment Research Consultants says the firm gave $815,838 to political campaigns last year and is now seeking authorization for $250,000 more, which it does not consider to be an appropriate use of shareholder funds. AZ told the WSJ that it believes the donations help the company shape health care policy. GlaxoSmithKline said recently that it would no longer make political donations (Marketletter January 12).
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