Diagnostic test maker Meridian Bioscience‘s (NYSE:VIVO) Chief Executive Jack Kraeutler received a 3 percent increase in compensation this year to $843,000.
Here’s how Kraeutler’s 2011 compensation breaks down, according to a recent regulatory filing: $546,000 in base salary; $228,000 in stock awards and $69,000 in “other” compensation, which includes retirement contributions, auto allowance and financial planning.
Unlike most CEOs, Kraeutler was not his organization’s highest-paid employee. That distinction went to William Motto, the company’s executive chairman, who was paid $885,000 in 2011. Motto is Meridian’s founder and has been chairman of the company’s board since 1977, according to the regulatory document.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
For its fiscal year ended in September 2011, Meridian reported a 12 percent increase in sales to $160 million, and a 1 percent increase in profits to $27 million.
Earlier this week, Meridian announced that it had received U.S. regulatory approval to begin selling a new Clostridium difficile test.
