Universities and Tobacco

IV. Research Grants, Scholarships, Professorships, Naming Opportunities, Stock Dividends

Introduction by Philip Huang, MD, MPH, Director of the Dallas County (Texas) Health and Human Services Department since 2019. Dr. Huang previously served as Medical Director for the Austin (Texas) Public Health Department. From 2015 to 2018, he was Chair of the FDA Tobacco Products Scientific Advisory Committee. As an MPH student at Harvard, Dr. Huang led the effort to urge the university to divest the tobacco stocks in its endowment.  He led a similar campaign at Rice University, of which he is an alumnus. (0:55)

*Like the vast majority of universities, U.S. academia’s largest retirement provider of financial services, TIAA (Teachers Insurance and Annuity Association), hasn’t sold its tobacco stocks, which are simply too lucrative…

*Medical schools need money to fund life-saving research. Tobacco companies, whose products cause lethal diseases, including cancer, heart disease, and stroke, donate part of their profits to universities to pay for that research…

*Several universities in the U.S. have scholarships, professorships, hospitals, and even medical schools that have been endowed by and named in honor of tobacco industry figures…

“Both the cash flows and the stability of the tobacco and food markets make Philip Morris a financially sound investment… It’s an incredibly powerful company in that sense, and its return is hard to beat. Everyone, even people who are absolutely morally and ethically against smoking may end up buying stock like that because it’s unbeatable.”

–Bala Dharan, professor of accounting, Rice University, 1990