And so, another working week will soon draw to a close. Not a moment too soon, yes? This is, you may recall, our treasured signal to daydream about weekend plans. Once again, our agenda is modest. We hope to catch up on our reading, escort Mrs. Pharmalot to a highbrow cultural establishment and take several naps. And what about you? Spring is nearly here so this may be a good time to start cleaning your castle. You could reach out to someone special. Or you could prepare for your next important meeting by making stuff up (after all, if you-know-who-can-do-it…) Well, whatever you do, have a grand time. But be safe. Enjoy, and see you soon….
Pfizer (PFE) boosted compensation for chief executive officer Ian Read last year to $27.9 million, a 61 percent increase, Bloomberg News tells us. His pay included an $8 million special equity award that will vest if the drug maker’s average stock return tops 25 percent for 30 consecutive trading days before the end of 2022, according to a regulatory filing. Read, who turns 65 in May, also must remain CEO through at least next March and not work for a competitor for a minimum of two years after that to be eligible.
Key Senate Republicans have signaled an increasing interest in making changes to the 340B drug discount program, adding to a chorus of House Republicans who are pushing to overhaul the program, STAT tells us. The Senate Health, Education, Labor and Pensions Committee held a hearing on Thursday to discuss the program with representatives of the hospitals who favor the program and the pharmaceutical companies who have long called for reining it in. The hearing was the first sign of serious Senate interest in the issue.