ST. LOUIS, April 22 (UPI) -- Shareholders of pharmaceutical giant Pfizer Inc. overwhelmingly rejected a proposal by Minnesota's governor to limit drug price hikes to inflation level.
Republican Tim Pawlenty has been leading efforts by U.S. governors to win federal approval of re-importation of cheaper prescription drugs from Canada. Pfizer is limiting supplies of some prescription medicines to Canadian pharmacies that sell in the United States via the Internet.
Minnesota pension funds are a Pfizer shareholder.
In a brief speech at the shareholder's meeting in St. Louis, Pawlenty asked Pfizer to allow U.S. consumers to buy Pfizer drugs from Canadian pharmacies and cap drug price increases at or below the inflation level. The proposal won 5 percent support, but Pawlenty was undaunted.
"This is a fight we are going to win, and the goal is to make prescription drugs more affordable," he told the St. Paul Pioneer Press.
A bill to allow Americans to legally fill prescriptions in Canada was introduced this week in the U.S. Senate.
