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Article

23 Oct 2014

Author:
Tracy Connor, NBC News (USA)

DJE Kapital pulls US$70 million investment in pharma firm Mylan over supply of drug for death penalty in Alabama

"Drug Maker Mylan Takes $70 Million Hit in Battle Over Lethal Injection", 21 Oct 2014

Alabama's plan to use a new drug to execute death-row prisoners is causing headaches for the pharmaceutical company that makes the chemical. An anti-death penalty organization convinced a German financial firm [DJE Kapital] to pull a $70 million investment in Mylan, the manufacturer of rocuronium bromide, a paralytic that is part of the state's untested three-drug lethal injection..."We don't want to support this," [managing director Jens Erhardt] said. "If clients find out we have shares in companies that supply that drug, we have problems with our clients." DJE was tipped off to the situation by Reprieve..."There are simple and effective steps pharmaceutical companies can take to protect their medicines from being sold for use in lethal injections, and...the vast majority of affected companies...have taken exactly these steps," said Maya Foa, head of Reprieve's death penalty team. "To date, Mylan has not taken [these] steps...and this is a matter of concern to responsible investors."... [Mylan stated,] “...We are dedicated to upholding the highest standards of quality and integrity... We only distribute our products through legally compliant channels, intended for prescription by healthcare providers consistent with approved labeling or applicable standard(s) of care.”