AMA divests itself of tobacco stock
Chicago — The American Medical Association has sold about $1.4 million in tobacco stocks owned by its pension fund, a representative said. The stock in cigarette producers R. J. Reynolds Industries and Philip Morris was sold in recent weeks.
The AMA had been under pressure from some elements of its membership, including residents and medical students, to divest itself of the stock. They argued it was hypocritical for a medical group to own stock in cigarette manufacturers.