Target Abbott Labs at the San Francisco Stock Exchange
Most of the AIDS therapies being developed focused on antiviral strategies to suppress the virus, not rebuilding the immune system ravaged by the disease. But this latter strategy—immune therapies—was a major focus of Bay Area treatment activism. Abbott Laboratories had a license to develop this approach, called HIVIG (HIV immune globulin), which involved transferring potentially potent antibodies from healthy, HIV-positive people to people in more advanced stages of the disease.
San Francisco activists advocated testing this procedure in both adult AIDS patients as well as in HIV-positive pregnant woman, in the hope of preventing HIV transmission from mother to child. Abbott wasn’t interested in researching this treatment, which meant it would languish “on the shelf.” To pressure Abbott to release the product for research—or sell it to another company willing to develop it—activists held a demonstration at the San Francisco Stock Exchange on July 16, 1992, encouraging stockholders to sell Abbott stock.
An “affinity group” of activists dressed up and had scheduled stock exchange tours for that day, while the street protestors organized outside. In a moment of well-orchestrated chaos, three activists made their way to the stock exchange floor. One, Michael Lauro, released helium balloons attached to a drop-down banner reading “Sell Abbott Stock.” The banner rose to the ceiling while activist tour attendees chanted slogans and rained colorful flyers onto the unsuspecting stock traders. Two other activists had made their way to the middle of the stock-trading floor, where they tossed flyers through the crowd of brokers, all while the street demonstration continued outside.
This was the first, and perhaps only time that activists disrupted trading on the floor of the Pacific Stock Exchange. It proved to be a tipping point for Abbott, which initiated negotiations in late 1992 to sell the product to NABI, a pharmaceutical company committed to further developing the therapy.