Wednesday, October 01, 2014 Headlines & Global News

Hobby Lobby Update: Investigation Reveals Store's Investments in Abortion Pill Companies

By Bianca Facchinei b.facchinei@hngn.com | Apr 01, 2014 03:24 PM EDT

Hobby Lobby
Hobby Lobby's headed to Washington again — this time with blueprints for a massive Bible museum just off the National Mall backed by Hobby Lobby honcho Steve Green.
(Photo : Flickr/Fan of Retail)

An investigation by "Mother Jones" shows that Hobby Lobby -- the corporation arguing they shouldn't have to follow the ACA's contraception mandate on religious grounds -- invests in mutual funds that invest in abortion pill companies.

According to the news outlet, the national craft store chain invested in manufacturers of the same birth control products they cite in their lawsuit -- like emergency contraceptive pills, intrauterine devices, and drugs commonly used in abortions --  against the Affordable Care Act.

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Documents filed with the Department of Labor in 2012 demonstrate the Hobby Lobby 401(k) retirement plan held over $73 million in mutual funds with the companies that create the contraception products.

The companies include Pfizer, creator of abortion-inducing drugs like Cytotec and Prostin E2; AstraZeneca, which has an Indian subsidiary that manufactures abortion drugs like Prostodin, Cerviprime, and Partocin; and Forest Laboratories, which makes abortion drug Cervidil are all included. 

Also listed are Teva Pharmaceutical Industries, which makes Plan B and ParaGard, a copper IUD; Actavis, which produces a generic version of Plan B and Ella; and Bayer, which makes the hormonal IUDs Skyla and Mirena.

Several funds in the store's retirement plan invested in Aetna and Humana, which cover surgical abortions, abortion drugs, and emergency contraception in a lot of their available health care plans.

In the recent report, Mother Jones also notes that Hobby Lobby used to include health care coverage that included Plan B and Ella. However, they decided to drop them in 2012 when filing the lawsuit.

Both Hobby Lobby and the Becket Fund for Religious Liberty -- the conservative group representing the store in court -- would not comment on the investments.

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