Thursday, March 11, 2010

Pfizer CEO Gets Pay Raise for Influencing Public Policy from ProPublica


Jeff Kindler, the chairman and CEO of Pfizer, recently got a 12.5 percent salary increase to $1.8 million. A  company proxy statement cited him for 'opposing legislation that would allow for importation of prescription drugs.' (Ben Stansall/AFP/Getty Images)Lawmakers often contend that lobbying, campaign contributions and fancy parties do not sway their votes, yet at least one company begs to differ. As The Washington Examiner reports, Pfizer based its recent decision to grant CEO Jeff Kindler a raise, at least in part, on his "developing and advancing U.S. and global public policies that serve the overall interests of our Company and our shareholders."

The language, buried in the company's most recent proxy statement filed with the Securities and Exchange Commission, explicitly cites Kindler's efforts in "opposing legislation that would allow for importation of prescription drugs."

Pfizer contends that importing these medicines "could jeopardize the integrity of the drug supply chain in the U.S," while groups like AARP say it's a safe and cost-effective solution to lowering drug prices.

rest at http://www.propublica.org/article/pfizer-ceo-gets-pay-raise-for-influencing-public-policy-309

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