Just days after outlining deep budget cuts and some 650 layoffs, Biogen Idec outlined a new incentive plan for 200 of its top executives. They stand to gain 1.2 million shares of company stock in what a company spokesman described as a way of aligning management with long-term goals. The stock bonuses will be distributed on top of any existing incentive plan already in place. Some experts on corporate compensation questioned why the company needed the new bonus package, worth about $48 million. Biogen Idec's stock lost 45 percent of its value after problems with its MS drug Tysabri forced the biotech to withdraw it from the market.
- read this article from The Boston Globe for more