After sustained pressure from shareholders and citizens, Costco says it has no current intention to seek certification to dispense mifepristone.
Costco has confirmed it has no current intention to seek certification to dispense the abortion pill mifepristone, marking the latest victory in Inspire Investing’s multi-year campaign to keep major retailers out of the abortion pill business. The decision follows more than a year of petitions, investor letters, and direct outreach to Costco leadership, coordinated with coalition partners nationwide.
After Roe v. Wade was overturned in 2022, the Biden Administration’s Food and Drug Administration (FDA) removed the in-person dispensing requirement for mifepristone in 2023, allowing certified pharmacies to dispense it by mail or in-store. In early 2024, CVS and Walgreens announced plans to sell the pill, while Costco and other major retailers were still evaluating their options. The abortion pill’s share of U.S. abortions has grown steadily over the past decade, increasing from roughly 39% in 2017 to nearly two-thirds today, according to the pro-abortion Guttmacher Institute.1
In June 2024, the Supreme Court issued a ruling in FDA v. Alliance for Hippocratic Medicine, temporarily preserving access to mifepristone but leaving unresolved whether the FDA’s current distribution system is legal. Following that decision, New York City Comptroller Brad Lander and other activist investors began pressuring Costco, Walmart, Albertsons, Kroger, and McKesson to sell the pill.
Later in 2024, Idaho Attorney General Raúl Labrador joined AGs from Missouri and Kansas in suing the FDA over what they allege are illegal and dangerous efforts to expand access to mifepristone.2 The case is being heard in Texas by Judge Matthew Kacsmaryk. In May 2025, Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. ordered the FDA to conduct a full safety review of mifepristone, citing concerns raised by recent data.3 Despite the change in administration, the Trump DOJ has so far defended the looser Biden-era restrictions as procedurally lawful. In June 2025, four Democratic state attorneys general petitioned the FDA to remove all remaining restrictions on the pill,4 only to have 20 Republican AGs in August call on the FDA to reinstate the safeguards for abortion drugs.5 The FDA is expected to respond by the end of the year.
Inspire Investing engages on this issue because we believe companies perform best when they stay focused on their mission and avoid divisive politics, promoting practices that serve customers, benefit shareholders, and foster long-term value. Abortion is one of the most contentious and polarizing issues in our nation, and there is no business case for companies to wade into such a deeply charged debate. The question of mifepristone is deeply important to the investors we serve, both morally and from a fiduciary perspective, and we believe our faith values are fully aligned with the duty to deliver strong financial results. Costco and other major retailers have little to gain and much to lose by selling chemical abortion drugs. In Costco’s case, the company has acknowledged there has been no demand for the product from its members, meaning any decision to dispense it would be driven purely by ideology rather than customer need.
When Inspire first contacted Costco in April 2024, the company said it was still evaluating whether to join the mifepristone REMS certification program, noting both the unsettled legal environment and the lack of material demand from members. When we did not receive a satisfactory commitment, we began applying coordinated pressure through petitions, investor letters, media engagement, and coalition partnerships.
In August 2025, in response to a shareholder resolution we planned to file, Costco informed us it has no current intention to seek the certifications required to dispense mifepristone. This marks a clear reversal of its previous position and a decision to avoid an issue fraught with moral, legal, regulatory, and financial risk.
To hear more about our work engaging these companies, listen to Tim Schwarzenberger’s recent Salt & Light Catholic Radio interview where he shares the details of Inspire’s campaign to stop major retailers from dispensing the abortion pill.
The legal and regulatory landscape for mifepristone remains unsettled, with multiple court cases, FDA petitions, and a federal safety review all pending. Inspire will continue to monitor developments and engage with companies to help them avoid becoming entangled in divisive political issues that carry moral, legal, and financial risks.
We thank Costco for listening to our concerns and making a decision that serves their members, protects their brand, and avoids a divisive political fight. This victory would not have been possible without the tireless support of our coalition partners, including Alliance Defending Freedom, The Ethics & Public Policy Center, Association of Mature American Citizens (AMAC), American Family Association, Idaho Family Policy Center, Salt & Light Catholic Radio, and numerous faith-based investors, as well as the 14 state treasurers who joined our efforts, the more than 9,000 individuals who signed our petition, and all the investors and citizens who spoke up. Together, we made a real difference to protect the unborn and safeguard women’s health.
6https://eppc.org/news/largest-ever-study-of-abortion-pill-reveals-shocking-number-of-adverse-events/
Tim Schwarzenberger, CFA is a Portfolio Manager with Inspire Investing and has over 20 years of industry experience. He previously served as Managing Director at Christian Brothers Investment Services (CBIS), where he was an integral member of the Investment Team responsible for implementing the firm’s strategy development, portfolio construction, and Catholic investing initiatives.
After sustained pressure from shareholders and citizens, Costco says it has no current intention to seek certification to dispense mifepristone.
Costco has confirmed it has no current intention to seek certification to dispense the abortion pill mifepristone, marking the latest victory in Inspire Investing’s multi-year campaign to keep major retailers out of the abortion pill business. The decision follows more than a year of petitions, investor letters, and direct outreach to Costco leadership, coordinated with coalition partners nationwide.
After Roe v. Wade was overturned in 2022, the Biden Administration’s Food and Drug Administration (FDA) removed the in-person dispensing requirement for mifepristone in 2023, allowing certified pharmacies to dispense it by mail or in-store. In early 2024, CVS and Walgreens announced plans to sell the pill, while Costco and other major retailers were still evaluating their options. The abortion pill’s share of U.S. abortions has grown steadily over the past decade, increasing from roughly 39% in 2017 to nearly two-thirds today, according to the pro-abortion Guttmacher Institute.1
In June 2024, the Supreme Court issued a ruling in FDA v. Alliance for Hippocratic Medicine, temporarily preserving access to mifepristone but leaving unresolved whether the FDA’s current distribution system is legal. Following that decision, New York City Comptroller Brad Lander and other activist investors began pressuring Costco, Walmart, Albertsons, Kroger, and McKesson to sell the pill.
Later in 2024, Idaho Attorney General Raúl Labrador joined AGs from Missouri and Kansas in suing the FDA over what they allege are illegal and dangerous efforts to expand access to mifepristone.2 The case is being heard in Texas by Judge Matthew Kacsmaryk. In May 2025, Health and Human Services (HHS) Secretary Robert F. Kennedy Jr. ordered the FDA to conduct a full safety review of mifepristone, citing concerns raised by recent data.3 Despite the change in administration, the Trump DOJ has so far defended the looser Biden-era restrictions as procedurally lawful. In June 2025, four Democratic state attorneys general petitioned the FDA to remove all remaining restrictions on the pill,4 only to have 20 Republican AGs in August call on the FDA to reinstate the safeguards for abortion drugs.5 The FDA is expected to respond by the end of the year.
Inspire Investing engages on this issue because we believe companies perform best when they stay focused on their mission and avoid divisive politics, promoting practices that serve customers, benefit shareholders, and foster long-term value. Abortion is one of the most contentious and polarizing issues in our nation, and there is no business case for companies to wade into such a deeply charged debate. The question of mifepristone is deeply important to the investors we serve, both morally and from a fiduciary perspective, and we believe our faith values are fully aligned with the duty to deliver strong financial results. Costco and other major retailers have little to gain and much to lose by selling chemical abortion drugs. In Costco’s case, the company has acknowledged there has been no demand for the product from its members, meaning any decision to dispense it would be driven purely by ideology rather than customer need.
When Inspire first contacted Costco in April 2024, the company said it was still evaluating whether to join the mifepristone REMS certification program, noting both the unsettled legal environment and the lack of material demand from members. When we did not receive a satisfactory commitment, we began applying coordinated pressure through petitions, investor letters, media engagement, and coalition partnerships.
In August 2025, in response to a shareholder resolution we planned to file, Costco informed us it has no current intention to seek the certifications required to dispense mifepristone. This marks a clear reversal of its previous position and a decision to avoid an issue fraught with moral, legal, regulatory, and financial risk.
To hear more about our work engaging these companies, listen to Tim Schwarzenberger’s recent Salt & Light Catholic Radio interview where he shares the details of Inspire’s campaign to stop major retailers from dispensing the abortion pill.
The legal and regulatory landscape for mifepristone remains unsettled, with multiple court cases, FDA petitions, and a federal safety review all pending. Inspire will continue to monitor developments and engage with companies to help them avoid becoming entangled in divisive political issues that carry moral, legal, and financial risks.
We thank Costco for listening to our concerns and making a decision that serves their members, protects their brand, and avoids a divisive political fight. This victory would not have been possible without the tireless support of our coalition partners, including Alliance Defending Freedom, The Ethics & Public Policy Center, Association of Mature American Citizens (AMAC), American Family Association, Idaho Family Policy Center, Salt & Light Catholic Radio, and numerous faith-based investors, as well as the 14 state treasurers who joined our efforts, the more than 9,000 individuals who signed our petition, and all the investors and citizens who spoke up. Together, we made a real difference to protect the unborn and safeguard women’s health.
6https://eppc.org/news/largest-ever-study-of-abortion-pill-reveals-shocking-number-of-adverse-events/
