Did a disaster crush your stock in 2018? These biotechs were happy to come up with some rich compensation deals for the CEO anyway
Poking around proxy statements every year can deliver some interesting surprises. And this year has offered some doozies as companies hit with some of the biggest setbacks of recent times reported out some big hikes in compensation for their CEOs — as well as at least one Big Pharma-sized pay package for a team player at a biotech spinoff.
Few companies had as many travails this past year as Alkermes. Spurned at the FDA on their lead pipeline drug — the depression therapy ALKS-5461 — the stock price $ALKS was crushed and CEO Richard Pops was left to insist on a review that led them straight down the path to a summary rejection and a demand for more data. And now their stock is trading at a little over half of what it was at the beginning of 2018.
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