Mylan Shareholders Balk at Executive Pay Package But Re-Elects Board Despite EpiPen Scandal

Published: Jun 23, 2017

AMSTERDAM — Mylan NV shareholders voted against the generic drugmaker's executive pay policy but re-elected the board at its annual meeting on Thursday despite a shareholder campaign in the wake of a scandal over high prices for its EpiPen emergency allergy treatment.

The company did not disclose the vote totals for the directors. Investors agitating against Mylan's board had a steep threshold to cross as more than two-thirds of the shares voted, as well as more than half of Mylan's outstanding shares, were needed for the directors to lose.

New York City Comptroller Scott Stringer, who oversees the city's pensions and is one of the leaders of the campaign against the drugmaker's board, said the failure to disclose the vote totals suggests that the directors face strong opposition.

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