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Archive for the ‘Executive Compensation – Big Pharma’ Category


Real Time Coverage @BIOConvention #BIO2019: Keynote Address Jamie Dimon CEO @jpmorgan June 5 Philadelphia

Reporter: Stephen J. Williams, PhD @StephenJWillia2

 

  • Dr Janet Woodcock from FDA was given the BIO Heritage award for leading the FDA from safety focus of 90s to the Voice of the Patient. She became a champion for advocacy groups
  • Governor Phil Murphy, Governor of New Jersey, received the Governor of the Year Award.  New Jersey known as medicine chest of the world, have first 3D printed drug on market and number two in biotech and number one on drug approvals.  We must do more to foster stem education.  It will take private and public capital investment.  New Jersey matches federal dollars and had doubled the angel investor tax credit.
  • Dr. Kakkis CEO of Ultragenix wins the Genzyme Henri Termeer Award for visionary work.  Dr. Termeer recently passed.  Dr. Kakkis is awarded for work with patients of rare diseases and help formulating legislation to help patients with rare disease have access to investigational drugs quickly.
  • Dr. Jeremy Levin from OVID named new chair of BIO

Interview with Jamie Dimon, CEO of JPMorgan

  • Mr Dimon had recently survived throat cancer and now has a renewed dedication to improving people’s lives.  With Amazon had embarked on a nonprofit experimental model to streamline healthcare for their employees.  He said the hardest part of going through cancer was telling his parents and children.
  • On the bailout he said it was a lie all banks needed TARP but could not just give to some and not all.  He says the financial system in US is very solid so next downturn will not come from financial sector and never is from geopolitical but trade issues could be a catalyst. Policy usually always does the opposite of what is intended.  He announced no intention of running for President of US.
  • We need to keep a growth agenda which includes education and infrastructure, without these competitive business tax relief does no account for much.  We need a better conversation of how government handles finances
  • Immigration, education very important.  Higher education needs to reduce costs and incentivize the people they bring in to stay here.
  • on healthcare:  JPM had reduced the deductables to zero for workers making $60,000 or less

Please follow LIVE on TWITTER using the following @ handles and # hashtags:

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@pharma_BI

@AVIVA1950

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Other Article on this Open Access Journal on Global Partnerships, Global Investing and JPMorgan Include:

 

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2018 CEO’s Compensation in Health Companies – Highest $99 Million to mid range $20 Million

Reporter: Aviva Lev-Ari, PhD, RN

 

First look at health CEOs’ 2018 pay

My colleague Bob Herman has been busy digging through newly filed proxy documents for large health care corporations, which provide a glimpse into how much top executives made in 2018.

Between the lines: CEO pay in this analysis is based on actual realized gains of stock. Bob compared those numbers, as well as the average median employee compensation, to 2017’s results. Here’s how it stacks up:

Intuitive Surgical

  • CEO Gary Guthart: $99.2 million (up 210% from 2017)
  • Median employee: $163,552 (up 4% from 2017)

Johnson & Johnson

  • CEO Alex Gorsky: $46.4 million (up 55% from 2017)
  • Median employee: $75,000 (up 14% from 2017)

AbbVie

  • CEO Richard Gonzalez: $28.5 million (down 62% from 2017)
  • Median employee: $148,823 (down 5% from 2017)

Humana

  • CEO Bruce Broussard: $27.2 million (down 20% from 2017)
  • Median employee: $70,498 (up 23% from 2017)

Centene

  • CEO Michael Neidorff: $21.1 million (down 15% from 2017)
  • Median employee: $66,021 (down 1% from 2017)

SOURCE

From: Sam Baker <baker@axios.com>

Date: Thursday, March 14, 2019 at 6:18 AM

To: Aviva Lev-Ari <AvivaLev-Ari@alum.berkeley.edu>

Subject: Axios Vitals: CRISPR babies — FDA releases vaping proposal — CEOs’ pay

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Executive Compensation of Big Pharma in 2016 & 2017 New Teva’s CEO, Third from the Top paid among his peers

 

Reporter: Aviva Lev- Ari, PhD, RN

 

This is a QUOTE from FiercePharma

http://www.fiercepharma.com/pharma/teva-poaches-lundbeck-chief-schultz-52m-package?utm_medium=nl&utm_source=internal&mrkid=993697&mkt_tok=eyJpIjoiTkdFelpqZGxaamxoT0dNMSIsInQiOiJLcjlnb2RqQ1hWVU9IU0F4NCt3Kzl0QlNDOFh2SldHMTlyOUMzcUxMc2xZMTNHYkJzY09TOUJsRXFnZEVVYkdWNzNiVVpVY1wveDRyRUo5dWpjUWtPVmhqTmZSbzVsUFhXUDVJOTR2TkxvRWJDcnN3bjc4N0ZDd0VOUnBuN1g2dHAifQ%3D%3D

Teva enticed Schultz with a pay and welcome package worth up to $52 million, including $20 million in cash upfront, according to an SEC filing on the Monday hire. The new helmsman will also receive a restricted stock award of $5 million and two performance unit stock awards each worth $7.5 million.

Schultz’s base salary is $2 million, with an annual bonus opportunity worth 140% to 200% of his salary. Under the agreement, he’ll also receive $6 million in annual equity incentives.

For Teva, the pay will be well worth it if Schultz is able to engineer a turnaround. The Israeli drugmaker has had its stock price and business prospects battered over the last year as the generic pricing environment worsens and other threats continue to unfold. Knowing the challenges the company faced, Teva’s board said during the search that it was looking for a world-class pharma vet.

And Schultz has fixed things at an ailing drugmaker before. After Lundbeck’s former CEO stepped down and as it was laboring to launch new meds, it hired Schultz in 2015. He had already made a name for himself during a long tenure at Novo Nordisk and during his two years at Lundbeck, he won praise for improving revenue and profits.

If ranked among last year’s top-paid pharma executives, Schultz package would place him at No. 3, behind Mylan chairman Robert Coury’s $97 million and Valeant CEO Joseph Papa’s $62.7 million. Like Schultz, Papa also joined a drugmaker suffering from a barrage of negative developments in recent years.

Aside from tough pricing on generics, Teva is also dealing with a price fixing investigation and a generic threat to key multiple sclerosis drug Copaxone. The company recently kicked off a restructuring set to affect 7,000 employees around the world after its $40.5 billion buyout of Allergan’s generic business became more of a drag than a boost for the company.

 

RELATED: The top 15 highest-paid biopharma executives

SOURCE

http://www.fiercepharma.com/special-report/top-15-highest-paid-biopharma-executives

 

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