Pfizer CEO gets 61% pay raise—to $27.9 million—as drug prices continue to climb

As drug giant Pfizer Inc. hiked the price of dozens of drugs in 2017, it also jacked up the compensation of CEO Ian Read by 61 percent, putting his total compensation at $27.9 million.

…The 61 percent raise comes after a string of separate reports noting drug price increases by Pfizer. In January, FiercePharma reported an analysis finding that Pfizer implemented 116 price hikes just between …December 15 [2017] and January 3 [2018.]

…Additionally, Pfizer had increased the prices of 91 drugs by an average of 20 percent in just the first half of 2017.

…In June of 2016, Pfizer raised the list prices of its medicines by an average of 8.8 percent. That followed an average 10.4 percent raise in list prices in January of that year.

Pfizer CEO gets 61% pay raise—to $27.9 million—as drug prices continue to climb | Ars Technica

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