California’s governor says the state will no longer do business with Walgreens Boost Alliance WBA -3.70% after the drugstore chain said it would stop dispensing the mifepristone abortion pill in some Republican-led states.
“California won’t be doing business with @walgreens—or any company that cowers to the extremists and puts women’s lives at risk,” said Gov. Gavin Newsom said in a tweet. “We’re done.”
Shares of Walgreens (ticker: WBA) were down 2% to $34.73 on Tuesday, extending their 1.7% decline following Newsom’s tweet on Monday. The S&P 500 fell 1%.
In an email to Barron’s, a spokesperson for Newsom said California was “reviewing all relationships between Walgreens and the state,” but didn’t elaborate on further on the logistics of the boycott or its timeline.
In February, 21 Republican attorneys general sent letters threatening legal action against pharmacy chains that mailed abortion pills to jurisdictions where the pills are restricted. Last week, Walgreens confirmed it would not dispense mifepristone—either in stores or by mail—in those states.
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Source: https://www.barrons.com/articles/california-gov-newsom-cuts-ties-with-walgreens-over-abortion-pill-restrictions-1bdec49b
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