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Hobby Lobby invests in contraception manufacturers

The Christian founders of craft store Hobby Lobby are fighting a case in front of the U.S. Supreme Court to be excepted from the contraception mandate of the Affordable Care Act as they believe it infringes on their religious liberty.
By Aileen Graef   |   April 1, 2014 at 4:09 PM   |   Comments

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April 1 (UPI) -- Hobby Lobby has invested millions of dollars in pharmaceutical companies that manufacture contraception and abortion-inducing medication.

According to a report by Mother Jones, several of the mutual funds in Hobby Lobby's retirement plan are with companies that produce the very medications the owners are trying to fight insuring.

One of the companies is Teva Pharmaceutical Industries, which manufactures Plan B, the emergency contraception medication, and the copper IUD Paragard. The second company is Actavis, which distributes a generic form of Plan B and Ella, another emergency contraceptive.

They also invest in Pfizer, Bayer, AstraZeneca, and Forest Laboratories, which all produce either or both abortion-inducing medications and hormonal IUDs.

As of Tuesday afternoon, Hobby Lobby had not made comment on the report. Hobby Lobby may not know about their investments, but this news does have the potential to undermine their case in front of the Supreme Court, as Huffington Post politics reporter Elise Foley points out.


[HuffPost Live]
[Mother Jones]

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