SEC: Gilead, Vertex can't block shareholder vote on pricing risk

Gilead Sciences Inc. (NASDAQ:GILD) and Vertex Pharmaceuticals Inc. (NASDAQ:VRTX) have been told they must allow shareholders to vote on proposals by the UAW Retiree Medical Benefits Trust asking the companies to disclose risks related to their drug pricing strategies.

Gilead and Vertex each rejected the trust's proposal, after which the trust appealed to the SEC. On Wednesday, the trust said the agency had ruled in its favor. ...