Keyword: Idenix Pharmaceuticals
Merck & Co. CEO Ken Frazier ostensibly got a 2.5% bump to his base salary that took it to $1.53 million, but also a $3 million decline in overall compensation to $21.78 million.
The market for hepatitis C drugs is shrinking. Shortly after spending $3.9 billion on Idenix, Merck is taking a $2.9 billion hit on an experimental compound.
An ongoing patent infringement battle between Merck and Gilead over the latter’s hepatitis C blockbusters, Harvoni and Sovaldi, has swung back in Merck’s favor. A federal jury ordered Gilead to pay Merck $2.54 billion—the equivalent of 10% royalties on Harvoni and Sovaldi.