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Catholic MP linked to abortion pill firms dumps shares

by Eno Adeogun

The Sunday Mirror has revealed that an investment firm of which the representative for North East Somerset, Jacob Rees-Mogg is a co-partner, had been profiting from shares held in drug firm FDC in India.

It comes after the paper also reported that the politician - who recently said he was against abortion even for pregnancies resulting from rape - admitted that his investment firm holds shares worth nearly £5 million in the Indonesian pharmaceutical company Kalbe Farma, which makes misoprostol.


The pill, which is marketed as a preventer of stomach ulcers, is offered with another drug - mifepristone - by the NHS in terminations.

The holding of 186,000 shares in India's FDC, worth £467,800, was bought by Mr Rees-Mogg's Somerset Capital Management and have since been sold, according to The Sunday Mirror.

He owns a 15 per cent share in the London-based Somerset Capital Management firm.

Speaking to the paper about the Indonesian firm, the 48-year-old devout Catholic, who has been tipped as a future Tory leader said: "I don't manage the funds and haven't done so since I became an MP.

"But the funds have to be run in accordance with the requirements of the investors and not according to my religious beliefs.

"It would be wrong to pretend that I like it but the world is not always what you want it to be."

The father of six previously defended his investment in Kalbe Farma because abortion is illegal in Indonesia and the pills are not openly sold for the purpose of abortions.

Abortion is illegal in Indonesia except in cases where a woman's life is in danger, a woman has been raped or there is foetal impairment. The consent of a husband is also required.

Mr Rees-Mogg said Kalbe Farma obeyed Indonesian law and that he hadn't been aware that the company made misoprostol - which is sold under the brand Invitec.

However, speaking about the decision to stop investing in FDC, he told the Sunday Times: "I am glad to say it's a stock that we no longer hold. I would not try to defend investing in companies that did things I believe are morally wrong."

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