I
n a harshly worded letter, several large institutional investors are urging shareholders to oppose the re-election of six Mylan directors — including non-executive chairman Robert Coury — over its “costly record of compensation, [and] risk and compliance failures.”
The move comes shortly after Mylan disclosed that Coury was given a $97 million pay package last year. At the time, corporate governance experts suggested shareholders may revolt over his compensation, which included a $22.3 million termination benefit for his recent change in status to non-executive chair and came in the wake of a wave of pricing controversy and government probes.
Unlock this article by subscribing to STAT Plus today. Try it FREE for 30 days and cancel anytime!
SUBSCRIBE TODAYWhat is it?
STAT Plus is a premium subscription that delivers daily market-moving biopharma coverage and in-depth science reporting from a team with decades of industry experience.
What's included?
- Authoritative biopharma coverage and analysis, interviews with industry pioneers, policy analysis, and first looks at cutting edge laboratories and early stage research
- Subscriber-only networking events and panel discussions across the country
- Monthly subscriber-only live chats with our reporters and experts in the field
- Discounted tickets to industry events and early-bird access to industry reports
About the Author
Many thanks for this article…it is quite useful as I teach a course (and mentor faculty) in Hangzhou, China on “Ethics in Science and Pharmaceuticals”. As a SUNY Distinguished Teaching Professor, I am especially interested in the New York connection here…..currently writing a manuscript on why claims of altruism in Pharma ring hollow with the public….nicely articulated story…