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Amicus Therapeutics, Inc.

FOLD

Health Care

2

exclusion reasons

1 theme

Animal Welfare (2)
FOLD Health Care Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Exploitation
Since Jan 3, 2022

Amicus Therapeutics is a biotechnology company whose core business model relies on animal testing to develop and gain regulatory approval for its drug candidates. The company’s lead investigational therapies for rare diseases, such as those for Fabry disease and Pompe disease, require extensive preclinical testing in animals to demonstrate safety and efficacy before human trials can proceed. This dependence on animal experimentation is inherent to its pharmaceutical development process.

Evidence submitted in legal proceedings indicates that animals used in such testing endure conditions that may constitute severe suffering. In a 2021 court filing, Amicus acknowledged that evidence shows animals subject to experimentation endure conditions similar to or worse than those previously found by federal courts to constitute animal cruelty. While specific, recent USDA inspection records for Amicus were not publicly available in the gathered evidence, broader industry oversight has been highlighted by groups including the Humane Society of the United States, which in 2019 brought systemic animal welfare violations in the pharmaceutical testing sector to the attention of the SEC.

Animal Testing & Research
Since Jul 28, 2021

Amicus Therapeutics is a biopharmaceutical company whose business model is the development of novel therapies for rare diseases. As disclosed in its regulatory filings, product development in this sector “typically involves nonclinical laboratory and animal tests” as part of the Investigational New Drug application process required by the U.S. Food and Drug Administration. The company’s pipeline of gene therapies and small molecule drugs is dependent on this animal testing for preclinical safety and efficacy data. Amicus is listed by Cruelty Free Investors as a company whose operations involve animal usage.

Research Sources 1 organization
Cruelty Free Investors
External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.