The new Abbott Laboratories is counting on med tech for revenue growth in a proprietary-drug-free future, and the company is so far succeeding in diagnostics while medical device sales falter.
Abbott Laboratories gives us a two-fer in the proxy department. It filed its own annual-meeting documents, and so did its newly birthed spinoff AbbVie. Not surprisingly, Abbott Chairman and CEO Miles White once again collected more than $25 million in compensation for the year.
Some companies pay their CEOs more than they pay in U.S. taxes. That's the somewhat sensational conclusion of a study from the Institute for Policy Studies, a Washington, D.C. think tank. And among them, the IPS says, is Abbott Laboratories' CEO Miles White, a perennial top earner among Big Pharma executives.
Pharma breakup followers, take note: Abbott Laboratories ($ABT) has unveiled its first-draft documents for the AbbVie spinoff. In a letter to shareholders filed with the Securities and Exchange Commission, Abbott discloses its management team, sets forth pro forma financials, and runs down the trends on product sales.
We know how pharma CEO pay stacked up within the industry. But how did pharma's 2011 compensation packages compare with those in other industries?
Banking on double-digit earnings growth and a string of pipeline deals and developments, Abbott Laboratories execs said they are "on track" to go ahead and spin off the pharma side of the business later this year.
Abbott Laboratories ( $ABT ) had a memorable 2011 capped off by announcing that it would split into two companies: a pharma business and a medical products company. CEO Miles White (pictured), who will continue to lead the diversified medical products company, saw his total compensation fall slightly in 2011, coming in at just above $24 million. That's down about 6% from $25.6 million a year earlier.
Abbott Laboratories Chairman and CEO Miles White ( photo ) received a 2 percent raise last year, to $1.89 million. However, his bonus and other stock awards dipped, according to an SEC filing. White
Miles White ( photo ) has been CEO of Abbott Laboratories ( NYSE: ABT ) for 12 years, longer than any other current Big Pharma chief. And over those 12 years, he's done well by investors; the stock is up
Federal prosecutors want to read Miles White's inbox. And a U.S. judge has ordered the Abbott Laboratories CEO to hand over some of his email messages as part of a federal investigation into whether