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AbbVie Won't Say if it Will Stop Tying Executive Bonuses to Humira Sales in 2019
Pharmaceutical Company’s Non-Answers Come as the Drug’s List Price Has More Than Doubled in Recent Years
Washington, D.C. – Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released answers that AbbVie, Inc., submitted to the committee in which the company refused to say whether executives, including its CEO, will have their 2019 bonuses tied to sales of the costly anti-inflammatory drug, Humira.
“While families are struggling to fill their prescriptions, Pharma CEOs are getting big bonuses for profiteering off their high priced drugs,” Wyden said. “The system is set up so taxpayers and consumers foot the bill and Big Pharma reaps the rewards. It’s no wonder that Americans of all stripes are fed up with the broken drug pricing system.”
The questions come following a hearing in February where the Finance Committee heard from seven executives from the world’s largest pharmaceutical companies. In 2018, the top six executives at AbbVie collected $12.4 million in bonus payments in addition to salary and other compensation. AbbVie reported that U.S. sales of Humira reached $13.7 billion in 2018, twice what it reported in 2014. Meanwhile, the list price of Humira has more than doubled since 2012.
AbbVie’s full responses to written questions can be found here.
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