Amgen CEO Nabs Pay Raise Thanks to Horizon Deal. Does That Incentivize Aggressive M&A?

Amgen CEO Robert Bradway scored a 5.8% increase in overall compensation last year mostly thanks to the company’s acquisition of Horizon Therapeutics. For 2023, Amgen granted Bradway $22.6 million in total pay, compared with $21.4 million for 2022, a securities filing shows. While the CEO’s equity awards were almost identical between the two years, the main change in his 2023 pay came from a $1.1 million uptick in cash incentive pay. When evaluating Bradway’s performance for the year, Amgen’s board highlighted the company’s revenue outperformance, which came courtesy of the Horizon merger. This compensation policy raises a question: Wouldn’t executives just be incentivized to make aggressive M&A plays to beat targets wherever possible?

Read the full article: Amgen CEO Nabs Pay Raise Thanks to Horizon Deal. Does That Incentivize Aggressive M&A? //

Source: https://www.fiercepharma.com/pharma/ma-boosts-pipeline-progress-holds-back-amgen-ceos-2023-pay

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