Jacksonville protest demands city council divest from TEVA Pharmaceuticals and Israeli bonds

Jacksonville, FL – On Tuesday, August 8, community members of the Jacksonville Palestine Solidarity Network (JPSN) mobilized to Jacksonville City Council to demand the Police and Fire Pension Fund Board of Trustees not reinvest into TEVA Pharmaceuticals and divest its investment portfolios from Israel and Israeli companies.

TEVA Pharmaceuticals is a predatory company that helped fuel the fentanyl crisis, and it functions as an economic and societal pillar of the genocidal, war-mongering state of Israel. Despite the Jacksonville’s Police and Fire Pension Fund (PFPF) being in a 45% underfunded state of crisis, it currently has $200 million invested in Israeli bonds with $2 million invested into TEVA Pharmaceutical junk bonds specifically, one of which is up for renewal on October 1, less than a month away.

The press conference at the start of the mobilization served as the official launch of the new campaign, detailing reasons for the community and the PFPF board to act with urgency on the matter of divestment.

JPSN’s press representative stated, “While everyday Jacksonville residents are struggling to afford basic medical care, in just the past decade, Teva has been found guilty in multiple lawsuits, settling for billions of dollars for fraudulence and drug price fixing.”

Public comment from community members echoed shared sentiments of struggling to afford basic needs and advocated for better funding for social programs. One speaker stated, “The $2 million invested into TEVA could provide 20 million meals, according to Feeding America, for Jacksonville families that have recently experienced a lapse in SNAP benefits.”

Speakers presented the case that investments in companies like TEVA are a root cause of skyrocketing city debt that diverts funds from the community.

Immediately after the mobilization, members of JPSN conversed with Jacksonville residents and found unity on the demands that our tax dollars should benefit the people of Jacksonville, not an Israeli foreign corporate entity, that repeatedly breaks U.S. laws, actively chooses to harm our communities, drains local resources, and perpetuates the genocide of the Palestinian people.

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