A Merck Exec Gets A Raise, Another Returns
Make a commentBy Ed Silverman // July 30th, 2007 // 4:40 pm
Peter Kim, Merck’s chief scientist, is getting a 13.4 percent raise. The drugmaker’s compensation and benefits committee last week approved a hike in his annual base salary to $1,000,008 (that’s right, $1 million and $8), from $881,496. Kim (pictured to the left) also gets an increase in the target exec incentive plan award to 105 percent of his base salary, up from 100 percent, according to an SEC filing. Might there be another form filed pertaining to Ken Frazier? Last week, the Merck general counsel was named the new No. 2?
Meanwhile, Merck has re-hired Len Tacconi as global brand leader for its lead investigational component for obesity, taranabant, according to Medical Marketing & Media. Tacconi, who first joined Merck in 1996 to as a consumer marketing specialist, left in September, 2006, to become president of Discovery Health Media Enterprises.
In his previous stint at Merck, Tacconi orchestrated consumer campaigns for Singulair, Zocor and Vioxx before heading corporate reputation following the Vioxx withdrawal. He launched Merck’s first-ever corporate advertising with the “Where patients come first†campaign in June 2005.
Merck may need his help. Its obesity drug - a cannabinoid receptor - works similarly to Sanofi-Aventis’ Acomplia, which the drugmaker pulled from the FDA after an advisory panel voted against approval over possible psychiatric side effects. Pfizer is also working on a cannabinoid receptor.