As the number of lawsuits over the opioid crisis mounts, Cardinal Health (CAH) is being pushed by members of an investor coalition to overhaul the way executive pay is calculated in order to reflect the potential cost of any settlements or fines.
In a recently filed shareholder proposal, the International Brotherhood of Teamsters and a Rhode Island state pension fund argue the wholesaler should change its approach to tallying profits over concerns any possible payments will be substantial, and that Cardinal executives should bear some of the costs. To add more pressure, a letter is being sent to shareholder this week in advance of an annual shareholder meeting scheduled for Nov. 7.
Unlock this article by subscribing to STAT Plus and enjoy your first 30 days free!
GET STARTEDWhat is it?
STAT Plus is STAT's premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.
What's included?
- Daily reporting and analysis
- The most comprehensive industry coverage from a powerhouse team of reporters
- Subscriber-only newsletters
- Daily newsletters to brief you on the most important industry news of the day
- STAT+ Conversations
- Weekly opportunities to engage with our reporters and leading industry experts in live video conversations
- Exclusive industry events
- Premium access to subscriber-only networking events around the country
- The best reporters in the industry
- The most trusted and well-connected newsroom in the health care industry
- And much more
- Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr.
About the Author Reprints
Opioids should require to be prescribed with acupuncture.
Consult with your local acupuncture physician or acupuncturist about pain management.
Need to re-set my password, currently $35 monthly subscriber but have misplaced. Thanks!