https://www-bloomberg-com.cdn.ampproject.org/c/s/www.bloomberg.com/amp/news/articles/2018-03-13/allergan-gives-ceo-saunders-32-8-million-pay-package-for-2017
2.5% raise on average for everyone else. Stock is in the toilet and he gets a 26% raise. Shame! ding ding Shame ding ding
He's the chairman of the board, so no wonder they approved it. In the meanwhile 1000 people have been laid off to "save money", presumably to fund Brent's pay package.
This is just one of the hundreds of reasons this industry rightfully gets trashed by average Americans. We have become the late night Lawyer's advertising during reruns of sanford and son. ANd yep....I got laid off and I'm bitter.
He is the CEO and chairman of the board. If you expect him to make any less then you're crazy. Heck, Joe Papa got $63 million in 2016 from Valeant. The real sweet deals are the six figure sales reps that work 2 hours a day dropping off samples and then try to make their existence worth anything more than flashing boobs to doctors.
Joe Papa's compensation package is alot more than that if he hits keep financial goals. Highly doubt he will hit them. CEO compensation in this country and across the world for that matter is obscene. Until workers revolt, it will only get worse.
The shareholders all got shit rich dumping stock last year after they bought in before the merger that BS engineered. Thats why the stock continues to plummet (and why its time to gtfo). No one is buying back in.
CFO Maria Teresa Hilado earned $10.7 million in compensation, up from $1.2 million. CCO William Meury bagged $11 million, up from $1.7 million. R&D chief David Nicholson also brought home a packet worth $11 million, up from $1.7 million. And former COO Robert Stewart got $9.4 million, up from $1.5 million. As a team, their compensation soared from $11.8 million to $74.9 million — a 634% year over year increase. Shareholders didn’t make out so well during that period. Allergan’s stock declined from $218.89 to $180.26 over that period, and is currently trading at $163.19 in a choppy market. And Alllergan has had a mixed record on the pipeline front, with few M&A deals expected this year to pump up analysts. The rank and file at the company, meanwhile, was forced to undergo a revamp. The biotech laid off more than 1,000 and eliminated 400 open jobs at the beginning of this year to position itself for the blow that will arrive when Restasis loses patent protection soon. Saunders and his team had hoped that handing the patents over to a Mohawk tribe — which then claimed sovereign immunity to inter partes review — would help guard the blockbuster. That cost close to $14 million in an upfront. Instead, it’s been dissed by the courts and likely wouldn’t have worked in any case, given the patent review process that exists for drug makers. Here is the link to full article : https://endpts.com/stock-down-mohawk-deal-in-tatters-but-brent-saunders-and-the-team-at-allergan-earned-big-hikes-in-compensation/
Meanwhile, Paul Bisaro holds 260,000 shares and is the CEO of Impax Labs. Keep in mind he orchestrated the entire merger from Watson/Actavis, bought Forest and Allergan then faded into the sunset
LOL! Is this written by Saunders himself! Unless you're one of the lucky ones as a CEO stealing money from shareholders, you should be pissed as hell at Saunders and company for trashing Allergan! You stupid fool!
After a rough 2008 as well as layoffs and cost cutting in early 2009, Mr. Pyott and his direct reports all took a reduction in salary for 2009 not a 26% increase. He walked the walk. Fact! Source SEC fillings
Another Pyott cuck. I can't find any source to say he took a pay cut, but I can find one that shows he took a 51% INCREASE in 2012. https://www.fiercepharma.com/special-report/david-pyott-allergan-0
https://www.ted.com/talks/simon_sinek_why_good_leaders_make_you_feel_safe/up-next?utm_source=tedcomshare&utm_medium=email&utm_campaign=tedspread
https://www.cbsnews.com/news/allergan-ceo-pyott-received-pay-raise-to-119-million/ It’s in the article near the bottom.
https://www.cbsnews.com/news/allergan-ceo-pyott-received-pay-raise-to-119-million/ It’s near the bottom, not hard to find.
Where is the accountability? If your sales dropped like the share price you would be fired. Not for Brent. You have to be kidding me. Glad that I work for Merck because we operate very differently.
Bwahahahaha...so the Pyott cucks are applauding a drop from $3.5M to $3M as some massive give back, but ignore the 51% raise he took in 2012? His bonus pay and stock options well made up for that little $500K give he so generously fooled you with.
