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Mass. Mayor Targets Drug Companies

HeadlineSep 30, 2003

Meanwhile in Springfield Massachusetts, the city’s mayor is planning to ask the city’s retirement board to sell off all of the city’s pension investments in pharmaceutical stocks in protest. Mayor Michael Albano said, “It would send a message to the industry that these profits at the expense of the American consumer are outrageous They’re clearly flexing their muscles. It’s like a cartel, the oil cartel or the illegal drug cartel. That’s how they impact the marketplace and control pricing.” In July the city also made headlines when it became the nation’s first municipality to sign up with a Canadian drug supplier for its employee health plan.

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