News Archives » About
Important Advances in Pediatric AIDS Drug Development December 3rd, 2014
World AIDS Day saw two important announcements regarding development of much-needed pediatric AIDS drugs. This is an issue on which the Oblates and other faith-based investors in the Interfaith Center on Corporate Responsibility (ICCR) have pressed pharmaceutical companies on for years. Since most pediatric AIDS patients are in poor, developing countries, the usual market incentive for drug development does not exist. And, the development of pediatric AIDS drugs, particularly for infants, is challenging. ICCR members have actively encouraged the major pharmaceutical companies to participate in the Medicines Patent Pool, a mechanism established under the auspices of the UN to ‘pool’ patents for drugs to make existing formulations more readily available for generic production and for innovative fixed dose combinations to be developed.
On Monday, World AIDS Day, Abbvie announced a licensing agreement for lopinavir (LPV) and ritonavir (r), top World Health Organization-recommended medicines for children. The license will enable other companies and organizations to re-formulate and manufacture specially designed LPV/r and r pediatric treatments for distribution in low- and middle-income countries where 99% of children with HIV in the developing world live. [Abbvie is a spinoff of Abbott Laboratories that contains the research-based pharmaceutical business.]
On the same day, the HIV Medicines Research Industry Forum announced that the forum is joining PEPFAR, the Global Fund, and the Pediatric HIV Treatment Initiative (PHTI) in the newly established “Global Pediatric Antiretroviral (ARV) Commitment-to-Action” to accelerate innovation and save children’s lives. The initiative is designed to accelerate the development of new, high-priority pediatric ARV co-formulations for first- and second-line treatment by 2017.
Click here to read more »
Faith-Based Shareholders Pushes Bank of America to Reverse Poor Governance Decision November 26th, 2014
Activists protest BofA in Charlotte, NC in 2012;
Credit: photo from Flickr JedBrandt@gmail.com;
Some Rights Reserved
.
The Missionary Oblates have joined other Faith-based investors in asking Bank of America to require the Chair of the Board to remain independent. BOA recently decided to give the title of Chairman to the Bank’s CEO, Brian Moynihan.
BOA’s action rolls back a bylaw change approved by shareholders in 2009 to separate the titles. Faith-based and other large institutional investors, including the California State Teacher’s Retirement System and the New York City Pension Funds, have called for a shareholder vote on the issue. Continuing fines and settlement payments involving the bank since the financial crisis have shareholders arguing for greater oversight of management by the Board. Giving the CEO the additional authority of Board Chair weakens the independence of the Board.
Fr Seamus Finn, OMI who is Board Chair of the Interfaith Center on Corporate Responsibility, said the bank’s ongoing fines and settlements show that it needs “to take a serious look at the culture of the institution.” He said it would be better if the two roles were separated.
The Oblates have joined the New Jersey-based Sisters of Charity in co-filing a resolution on this issue, and other faith-based institutional investors plan to do the same. Press coverage in the Wall Street Journal and other newspapers has analysts predicting that the bank will put the issue on the ballot for a vote by shareholders.
Missionary Oblates Welcome Executive Action for Migrant Families November 24th, 2014
Immigration Reform Rally, Capitol Lawn; photo taken on April 10, 2013; Cool Revolution on Flickr, Some rights reserved
.
Missionary Oblates JPIC applauds President Obama’s Administration for taking bold action to protect migrant families. On November 20, President Obama announced an historic action to provide deportation relief to an estimated 5 million undocumented immigrants living in the United States.
It is an historic victory that could not have been accomplished without the determined advocacy efforts of religious communities, immigrants and human rights groups. The executive action on immigration is welcome news for millions of immigrant families who have been living in the shadows for a long time.
The executive action will provide protection against deportation and will provide work permits to parents of U.S. citizens and lawful permanent residents (LPR) who have resided in the country for five years. It will also expand legal status protection to young people who came to the United States as children, but who were not able to qualify for DACA (Deferred Action for Childhood Arrivals) when it was first announced in 2012.
“Due to the failure of Congress to move on comprehensive immigration reform, President Obama was right to act to stop deportations, which would lead parents to be separated from their American-born children,” said Fr. John Cox OMI, Pastor of Most Holy Redeemer parish in Ogema MN and a former member of the U.S. Province JPIC Committee.
Click here to read more »
Midwest Oblates join Faith-Based Community Organizing Coalition November 20th, 2014
The Missionary Oblates of the Midwest Area are now official members of United Congregations of Metro East. This ecumenical faith based organization provides a cooperative forum for member congregations in promoting issues of Social Justice, and offers social organizing training on behalf of the poor. They already have been working informally with the Ecological Learning Center in Godfrey, and look forward to partnering with the Hispanic Ministry at the National Shrine of Our Lady of the Snows in order to have greater influence in the surrounding Latino community.
UCM was established in early 2000 with six churches. With technical assistance and training from the Gamaliel Foundation, they have grown to represent over 34 congregations with approximately 27,000 members. Member congregations represent the full range of communities in southwestern Illinois: older urban communities and new suburban areas, white, African-American and Hispanic, wealthy and impoverished.
For more information visit: www.ucmetroeast.org/
Canadian Mining Symposium a Success November 9th, 2014
Over a hundred and fifty people gathered on November 7th and 8th, 2014 at St. Paul’s University Campus for a symposium on mining organized by the Justice, Peace and Integrity of Creation ministry of the Canadian LaCombe Province. The gathering, titled SYMPOSIUM: Mining Extraction and Justice “The Global Cry of the People”, looked at the impacts of mining on affected communities, and their response. The dialog of faith groups with mining companies was also examined. Fr. Seamus Finn, OMI from the US JPIC Office, who has actively engaged a number of multinational mining companies, moderated one of the discussion panels. The symposium featured Fr. Gustavo Gutierrez, author of A Theology of Liberation, as the Keynote speaker.
Official Program available here.
