ROCHE HLDGS AD GENUSSCHEINE NPV
RHHBY
Health Care
3
exclusion reasons
2 themes
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.
Roche is one of the world's largest pharmaceutical companies and conducts industrial-scale animal testing across its drug development pipeline. The company claims a 50% reduction over 14 years but discloses no absolute numbers of animals used.
UK MHRA found 80,000 unreported adverse events including 15,161 deaths (2012). Roche failed to evaluate safety reports for at least 8 marketed drugs over an extended period.
$500M DOJ criminal fine (1999) for leading a 9-year international vitamin price-fixing cartel, the largest antitrust fine in US history at the time.
Research Sources
7 organizations
Related Exclusions
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The Naughty List
A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
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.