Unhappy investors to Mylan: Stop stiff-arming proposal to expand executive pay clawback

fiercepharma | June 10, 2019

Unhappy investors to Mylan: Stop stiff-arming proposal to expand executive pay clawback
After Mylan reported first-quarter results, investors punished the company for its ongoing struggles by sending shares down 24%. But as one analyst observed at the time, the decline was about more than just profits and losses. And now, the company is facing new backlash—and new questions about its executive pay rules. Pension fund adviser CtW has smacked Mylan's board for stalling a compensation clawback proposal, and it's urging shareholders to vote against the nominating and governance committee members up for election at its June 21 annual meeting. Right now, Mylan limits compensation clawbacks to misconduct that leads to financial restatements, but the fund adviser says it wants to step up those rules—and Mylan has thwarted at least one effort to take the idea to shareholders. The company blocked a vote on a proposal made by the UAW Retiree Medical Benefits Trust that called for stronger executive clawbacks, CtW says. Mylan told the SEC it wouldn’t put that proposal on its proxy ballot, saying the trust didn’t own enough shares to bring the matter to a vote. The company did include the item in a non-voting section of its proxy statement, but CtW says the “classification reflects what we view as a disrespect for the rights of Mylan shareholders.”

Spotlight

2012 will be regarded by many commentators as one of the most challenging years in the pharmaceutical industry’s history, due in no small part to numerous products facing patent expirations and increased global competition. It is now considered a sound strategic move by pharmaceutical companies, from big pharma to smaller players, to increasingly rely on outsourcing service providers to fulfill specific tasks, solve problems and improve efficiency and productivity

Spotlight

2012 will be regarded by many commentators as one of the most challenging years in the pharmaceutical industry’s history, due in no small part to numerous products facing patent expirations and increased global competition. It is now considered a sound strategic move by pharmaceutical companies, from big pharma to smaller players, to increasingly rely on outsourcing service providers to fulfill specific tasks, solve problems and improve efficiency and productivity

Related News

RESEARCH

Orsini Specialty Pharmacy Expands Collaborates with Alnylam® Pharmaceuticals as a Limited Distribution Partner for Oxlumo™

Orsini | December 04, 2020

Orsini Specialty Pharmacy, an innovator in uncommon illnesses and quality treatments, reported today that it has been chosen by Alnylam® Pharmaceuticals as a restricted appropriation accomplice for OXLUMO™ (lumasiran). OXLUMO is the solitary treatment affirmed for essential hyperoxaluria type 1 (PH1) to bring down urinary oxalate levels in pediatric and grown-up patients. PH1 is a super uncommon hereditary sickness described by the overproduction of oxalate, a side-effect that normally is dispensed with by the kidneys and discharged in the pee. The overabundance creation of oxalate brings about the affidavit of calcium oxalate gems in the kidneys and urinary plot and can prompt the development of agonizing and repetitive kidney stones, nephrocalcinosis, movement to kidney disappointment, and foundational organ brokenness. It is assessed that PH1 influences one to three people for each million in the United States and Europe. "We are satisfied to grow our organization with Alnylam Pharmaceuticals and add OXLUMO to the treatments we accommodate the treatment of super uncommon hereditary conditions," said Mike Fieri, Orsini Chief Executive Officer. "Our devoted OXLUMO Care Team is focused on offering caring help and individualized administrations to help individuals with PH1 and their families all through their excursion and assist them with exploring through the complexities of our medical services framework."

Read More

PHARMA TECH

WinHealth and Immedica enter into an agreement that gives WinHealth the rights to Ravicti® in China and several other Asia-Pacific countries

WinHealth | January 04, 2021

Hong Kong WinHealth Pharma Group Co., Ltd. furthermore, Immedica Pharma AB, today declared that they have gone into an understanding under which WinHealth has the restrictive business rights to Ravicti® (Glycerol Phenylbutyrate) for Greater China, South Korea, Singapore, Vietnam , Indonesia, Malaysia , the Philippines and Thailand gets. Ravicti® is shown for the treatment of urea cycle issue (UCD) in Europe and North America, and as a feature of the reported association, WinHealth is authorized to enlist and popularize the item against UCD in the nations demonstrated. "We are satisfied to report this association with WinHealth, with which we can make Ravicti® accessible to UCD patients in this piece of the world too. The arrangement additionally fortifies Immedica's geographic presence, as it empowers us to grow our organization to incorporate another coordinated effort for uncommon infections, " says Anders Edvell, CEO of Immedica . Jack Wang , Chairman and CEO of WinHealth , remarked, "Urea cycle problem is a seriously underserved clinical need in China that, whenever left untreated, will bring about extreme neurocognitive decay, trance like state, or even passing. We anticipate banding together with Immedica and anticipate making Ravicti®, an inventive medication affirmed in both Europe and the US , accessible to patients with UCD in China and neighboring nations. "

Read More

RESEARCH

Two Labs, an Envision Pharma Group Company Acquires Riparian

Two Labs | July 08, 2021

Two Labs, an industry-leading pharma services company and a subsidiary of Envision Pharma Group, announced today the acquisition of Riparian, a pharma consulting and SaaS company that assists manufacturers with pricing regulations, reporting, strategies, and program operations. The acquisition expands Two Labs' pharma service offerings, allowing the company to offer greater insights into the financials associated with drug launch and management, better positioning manufacturers for long-term success. In addition, Riparian's in-depth knowledge of government pricing regulations and program operations, combined with their consulting, business process outsourcing, and software capabilities, enables clients to understand the financials of their drug better, ensuring that the prices reported to the government are in accordance with the current government statutes and regulations. Riparian and Two Labs will collaborate to accelerate parent company Envision Pharma Group's plans for expansion in the growing biotech pharma sector in the United States. In November 2020, Envision acquired Two Labs. Riparian will continue to operate from its current headquarters in Henderson, Nevada, with offices in Pasadena, California, and Johnson City, Tennessee. In addition, David Chan and Cynthia Hwang, co-founders, will continue with the company. About Two Labs Two Labs is a leading pharmaceutical services company that offers pharmaceutical manufacturers a range of market access, market intelligence, and commercialization services. Two Labs has managed over 200 new product launches and over 290 in-market projects from pre-launch through loss of exclusivity since its start in 2003. About Envision Pharma Group Envision Pharma Group, founded in 2001, is a global, innovative technology and scientific communications company that serves pharmaceutical, biotechnology, and medical device companies. Envision is a leading provider of evidence-based communication services and industry-leading technology solutions (iEnvision) with applications in various areas of medical affairs and related functional responsibility. Envision Pharma Group serves over 90 companies, including all top 20 pharmaceutical companies, with services and technology solutions. About Riparian Riparian is a pharma Consulting, Outsourcing, and SaaS company based in Henderson, Nevada, assisting manufacturers in navigating government pricing regulations, reporting, strategies, and program operations. Riparian is a rapidly growing, innovative company supported by a team of industry experts.

Read More