Mylan’s chairman Robert Coury made roughly $US98 million in 2016, a year in which the company faced criticism for the price of the EpiPen and the stock fell almost 30%, according to company filings.
On top of that, The Wall Street Journal reported, Coury made $US66.3 million in other payments, including retirement benefits, bringing the amount he made in 2016 to $US164 million.
According to the filings, Coury will continue to receive $US1.8 million a year. Coury had originally served as CEO of Mylan from 2002 to 2011. Before June 2016, Coury had served as executive chairman, a role he held since 2012 when Heather Bresch became CEO.
Mylan told The Journal in a statement:
“During Mr. Coury’s long tenure, Mylan has delivered strong financial performance and shareholder growth, and his new compensation structure continues to be aligned with the company’s stock performance while providing shareholders with the benefit of his continued leadership and guidance in setting Mylan’s strategic direction.”
The generic pharmaceutical company came into the spotlight in August 2016 for raising the price of the EpiPen to $US608.61 from $US93.88 over the past decade. It caught the nation’s attention because parents were refilling their kids’ prescriptions, and some found that they were on the hook for hundreds of dollars for the device.
From May 2016 to May 2017, Mylan’s stock is down 12.4%.