Never mind those Vioxx lawsuits, Dick Clark got what he deserved: a $1.8 million bonus for 2006 and a pay hike that brings him in line with ceo’s at other struggling drugmakers. The low-key leader will now pull down $1.7 million, up from $1.2 million, as of last week.

Actually, the 8-K filed today with the SEC indicates Clark will get this amount: $1,700,004.00. That’s right, there’s an extra $4 tacked on, but there’s no explanation for the pocket change. Maybe that’s for coffee he can buy in the company cafeteria when mingling with the ordinary employees.

Despite the voluminous Vioxx litigation, which is far from over, Merck’s stock price rose 37 percent last year. For the moment, Wall Street seems to have decided the lawsuits may not be as costly or distracting as once feared. Meanwhile, Merck got FDA approval for three new vaccines, including the notorious Gardasil for HPV, raising hopes of a revival in revenue.

For those keeping score, Peter Loescher, the newly named No. 2 who arrived last spring, was given a $1.3 million bonus; Peter Kim, the chief scientist, recieved a $900,000 bonus; the outgoing cfo Judy Lewent was handed $875,000; and David Anstice, a top marketing exec, made off with $700,000.

Not bad for a company that saw profits fall 4 percent on a 3 percent gain in revenue last year.

[tags]Dick Clark, Executive Pay, Merck[/tags]