MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'bonuses'. Sat, 03 Sep 2011 02:38:11 +0100 http://www.medworm.com/index.php?rid=4446035&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FjhSADEKA0Ew%2F In an effort to spread the wealth - or perhaps the pain - Eli Lilly is now calculating employee bonuses based, in part, on the progress of its product pipeline. Specifically, the drugmaker added what it calls a “research metric” to measure “output and sustainability.” This includes product approvals and new molecular entities that enter Phase III clinical trials during the calendar year. “Pipeline sustainability is measured by tracking each project’s progression toward its next milestone and by an evaluation of pipeline quality,” according to a filing late last week with the US Securities and Exchange Commission (see page 37). The changes also include measuring financial performance against company goals instead of the competition, and they went into e... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4446035 Mon, 07 Feb 2011 13:28:58 +0100 4446035 http://www.medworm.com/index.php?rid=4361303&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FAWhTEwmrRbQ%2F Reeling from product recalls that have sapped revenues and investor confidence, Johnson & Johnson last week told employees in a companywide e-mail that about half will receive 90 percent of what they would normally have received due to “mixed performance against our growth targets.” J&J employs about 114,000 people, by the way. The move comes amid ongoing concern - inside and outside the healthcare giant - about the implications of the recalls, which have involved hundreds of millions of over-the-counter products, such as Tylenol, Rolaids, Sudafed and Benadryl (the latest was last week), as well as contact lenses (look here) and surgical devices. The recalls reflect systemic manufacturing woes that have, for now, shuttered one plant - which resulted in 300 job losses... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4361303 Tue, 18 Jan 2011 21:50:03 +0100 4361303 http://www.medworm.com/index.php?rid=3907583&cid=t_132394_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHHS4AV0nPuY%2F By David Boaz“Rep. Barney Frank, chairman of the House Financial Services Committee, said Tuesday that he will hold a hearing this fall to examine whether regulators are being tough enough in curbing pay practices at Wall Street firms that can lead to excessively risky practices,” writes Zachary Goldfarb in the Washington Post. Hmmm. “Pay practices that can lead to excessively risky practices.” Since Barney Frank entered Congress, federal spending has risen from $590 billion in 1980 to $3.7 trillion this year. (U.S. Budget, Historical Tables, Table 1.1) The annual deficit has risen from $74 billion to $1.5 trillion.  Gross federal debt rose from $909 billion to $13.8 trillion — and to over $15 trillion next year. (Table 7.1) And all this without a major war o... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3907583 Thu, 26 Aug 2010 21:11:01 +0100 3907583 http://www.medworm.com/index.php?rid=3283817&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FDOJlUCDu-VA%2F The health care giant plans to cut yearly performance bonus targets for 38 percent of its employees and freeze salaries for certain workers, according to The Wall Street Journal, which cites an internal announcement and other company documents. The move comes just as Bristol-Myers Squibb freezes salaries (see here). On Jan. 25, J&J told employees the initiative will standardize compensation across businesses and regions, making it easier to move around within the company. In the US, the changes will bring bonus targets in line with market levels, one document said, and the moves apply across the board, except for those covered by collective bargaining. J&J established 3,000 job classifications and 20 pay grades. “The current challenging economic environment has reinforced o... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=3283817 Thu, 18 Feb 2010 13:53:45 +0100 3283817 http://www.medworm.com/index.php?rid=2570380&cid=t_132394_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1o0aH394hP4%2F Regulators at the SEC and politicians on Capitol Hill seem to have short memories when it comes to executive compensation.  When the SEC years ago decided to make the compensation of top executives public information, it had the all too predictable result of actually increasing average compensation levels.  Once a top CEO knew what other CEOs were making, he could argue for a pay hike based upon being “underpaid”.  Of course regulators were “shocked” by the resulting “race to the top.”  Similarly Congress was shocked when after deciding to heavily tax salaries over $1 million, that companies shifted away from direct cash pay and toward options and increased bonuses in the form of shares.  And soon Washington will also pretend to be shocked and outra... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2570380 Thu, 02 Jul 2009 16:23:28 +0100 2570380 http://www.medworm.com/index.php?rid=2570386&cid=t_132394_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FMwC1DQQHSZY%2F Economists have advanced many theories of taxation. But as usual, the one that seems to explain the policies of the Obama administration best is what I call the Mikulski Principle, the theory most clearly enunciated in 1990 by Sen. Barbara Mikulski (D, Md.): Let’s go and get it from those who’ve got it. Just take a look at the myriad taxes proposed or publicly floated by President Obama and his aides and allies: Raise the top income tax rates from their current 33 percent and 35 percent rates to 36 percent and 39.6 percent in 2011 Limit itemized deductions for people paying high rates Increase capital gains and dividend taxes by 33 percent for people paying high income tax rates Impose a value-added tax (VAT) on all goods and services Raise the Social Security tax by lifting the ca... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2570386 Thu, 02 Jul 2009 13:02:26 +0100 2570386 http://www.medworm.com/index.php?rid=2299186&cid=t_132394_136_f&fid=36032&url=http%3A%2F%2Fwww.everydayhealth.com%2Fblog%2Flife-with-breast-cancer%2Fdo-big-bonuses-and-greed-influence-cancer-research%2F I noticed a pink cap and ribbon adorning a pop bottle the other day. The label announced that funds were being donated to the Susan G. Komen organization to find a cure. Over the weekend I have been wondering how that’s been going for them. Susan G. Komen has been raising funds from huge corporations through consumer marketing for several years but I haven’t heard of any breakthroughs for a cure. The American Cancer Society is also working diligently to find funds for the cure as are many other wonderful groups. I don’t blame the organizations of course, but I wonder what everyone is up to? Are there scientists that are locked away in underground laboratories on the verge of uncovering a cure? Are learning institutions and hospitals wheeling in barrels full of money to ensure that fi... Life with Breast Cancer blogs http://www.medworm.com/rss/comments.php?id=2299186 Mon, 23 Mar 2009 17:30:57 +0100 2299186 http://www.medworm.com/index.php?rid=1622142&cid=t_132394_150_f&fid=34889&url=http%3A%2F%2Fpharmamkting.blogspot.com%2F2008%2F07%2Ffda-intern-gets-her-bonus.html According to a CBS News story -- "FDA Execs Reap Lavish Bonuses" -- 28 senior FDA executives took in a combined $1 million in bonuses last year."They've done such a miserable job these last two years, I think they should leave! Not get bonuses of $40,000 [to] $50,000!" Rep. Bart Stupak, D-Mich., said. "Good grief.""What we are talking about here is the need to have highly experienced, highly capable technical experts that, without which, the country would suffer," said FDA Commissioner Andrew von Eschenbach."These should be referred to not as retention bonuses but blackmail bonuses," said Tom Schatz, president of Citizens Against Government Waste.All this has not gone unnoticed by Emily, the intern at FDA, as we document in this installment of FDA INTERN!Yes, it's FDA Intern! Strange visit... Pharma Marketing Blog blogs http://www.medworm.com/rss/comments.php?id=1622142 Mon, 14 Jul 2008 18:51:00 +0100 1622142 http://www.medworm.com/index.php?rid=1616434&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F332789835%2F We have written before about the large bonuses given some FDA officials - see here and here - but there is nothing like watching FDA commish Andy von Eschenbach avoid the issue. And you can watch him prevaricate now that CBS Evening News caught up to the story… (Source: Pharmalot) Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1616434 Fri, 11 Jul 2008 15:55:17 +0100 1616434 http://www.medworm.com/index.php?rid=1546982&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F320644750%2F At a time when the FDA is routinely criticized for awarding large bonuses to senior officials but measly incentives to underlings, the agency doled out more than $35 million in incentive pay for fiscal year 2007, a 29 percent jump from the previous year, according to a new analysis. Seventeen of the top paid officials made more than $200,000, according to documents sent by Stephen Mason, the FDA’s acting assistant commissioner for legislation, to the House Energy and Commerce Committee, which is investigating the FDA’s bonus system. Here is his letter. To prevent FDA employees from going to pharma and other industries, which can pay double, Congress had expanded a cash bonus program to help retain government workers. “The agency employs a very knowledgeable, experienced a... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1546982 Thu, 26 Jun 2008 16:24:46 +0100 1546982 http://www.medworm.com/index.php?rid=1461244&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F295745323%2F Almost 40 percent of Glaxo shareholders either abstained or voted against the drugmaker’s pay plan at the annual meeting yesterday, a poor showing for Glaxo directors and execs who have repeatedly sought to justify compensation packages. Investors holding about 29 percent of Glaxo shares chose not to vote on plan yesterday, according to figures released by Glaxo. Of those who voted, about 86 percent supported the plan, while 14 percent were against it. That compares with 92.5 percent who supported the plan last year, when 1 percent of votes were withheld. Several shareholders attending the meeting spoke out against pay levels of Glaxo executives and directors, according to Bloomberg News. They complained the compensation was “excessive” and not linked to the performance... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=1461244 Thu, 22 May 2008 11:05:56 +0100 1461244 http://www.medworm.com/index.php?rid=935391&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F167087575%2F Last week, we wrote that Novartis was blaming a problem with market share data on IMS Health, the big gorilla among pharma data firms, and the drugmaker was telling its sales reps that some of them may have to return bonuses if a review shows they were overpaid (conversely, some may get bigger payouts, too). Not surprisingly, many Novartis sales reps were annoyed. They claimed the decision is hurting morale and some even skeptically suggested the move is simply a way to urge reps to quit, which would help with a planned cost-cutting effort. IMS wouldn’t comment, but didn’t deny the problem. But a Novartis spokesman insisted the situation is “still under review,” before adding that other drugmakers were also given bad data by IMS and, perhaps, weren’t being &#8... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=935391 Tue, 09 Oct 2007 00:50:02 +0100 935391 http://www.medworm.com/index.php?rid=774270&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F139931417%2F Big bucks are paid to high-ranking officials, despite agency complaints that money is tight. One example: Before paying $48,823 in cash bonuses to its chief of regulatory affairs in 2005, the FDA asked Margaret Glavin to sign a simple declaration: “If I am unable to receive a retention allowance, I am likely to leave the federal government for a higher paying position in the private sector.” No specific job offer was detailed, but the payment was made. Over the past 4 1/2 years, she collected more than $178,000 in cash bonuses on top of her $159,840 annual salary. FDA officials justified this by saying her pay should be close to the salaries of those employed by companies she regulates, namely Washington lobbyists, according to an analysis by The Washington Post. The private-se... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=774270 Thu, 02 Aug 2007 12:51:39 +0100 774270 http://www.medworm.com/index.php?rid=739260&cid=t_132394_150_f&fid=35777&url=http%3A%2F%2Ffeeds.feedburner.com%2F%7Er%2FPharmalot%2F%7E3%2F134443009%2F The FDA is giving workers more than $8 million in bonuses to keep them from defecting to drugmakers and other regulated industries, and is doing so at the very same time the agency is pressed to spend more on food and drug safety, the Associated Press reports. The retention bonuses, worth $5,000 or more per employee, are triple what was paid in 2002 and are more than any other federal agency pays. As recently as 2005, the FDA accounted for more than 40 percent of the overall $21.6 million the government paid in retention bonuses, according to FDA and other government records reviewed by the news service. The retention bonuses are only part of an overall financial incentive program, including recruitment and relocation bonuses paid its employees, that has grown sharply at FDA in recent year... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=739260 Tue, 17 Jul 2007 04:44:01 +0100 739260