Small groups of pharmaceutical industry shareholders have pushed for companies to disclose whether higher drug prices fuel lavish bonuses for top executives. But those proposals were handily defeated.

The bottom line: The industry and its largest stockholders are not about to start self-regulating when it comes to drug prices and incentive pay packages.

Driving the news: The shareholder proposals failed by large margins at AbbVieJohnson & JohnsonPfizer and Vertex. Each company vigorously opposed them.

  • Top executives receive cash bonuses based on meeting certain targets, like revenue and earnings per share. Hitting those numbers usually requires companies to sell more drugs, raise prices or both.
  • The proposals would have urged companies to create reports detailing "the extent to which risks related to public concern over drug pricing strategies" are part of executives' bonuses, if at all.

Between the lines: The drug pricing reports would not have been required, and companies would not have been forced to make any changes to bonuses — and the proposals still failed.

Go deeper: Pharma CEOs are among the highest-paid in health care

Go deeper

Updated 24 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. EST: 32,062,182 — Total deaths: 979,701 — Total recoveries: 22,057,268Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m EST: 6,967,103 — Total deaths: 202,558 — Total recoveries: 2,670,256 — Total tests: 97,459,742Map.
  3. Health: Cases are surging again in 22 states — New York will conduct its own review of coronavirus vaccine.
  4. Business: America is closing out its strongest quarter of economic growth.
  5. Technology: 2020 tech solutions may be sapping our resolve to beat the pandemic.
  6. Sports: Here's what college basketball will look like this season.
  7. Science: During COVID-19 shutdown, a common sparrow changed its song.
2 hours ago - Podcasts

The child care tax on America's economy

Child care in the U.S. is in crisis, which makes it much harder for the American economy to recover — as providers struggle to stay in business and parents wrestle with work.

Axios Re:Cap digs into the problems and what can be done to solve them, with Vox senior reporter Anna North.

Viral load is a puzzle in COVID-19

Illustration: Eniola Odetunde/Axios

How sick a person gets from a virus can depend on how much of the pathogen that person was exposed to and how much virus is replicating in their body — questions that are still open for the novel coronavirus.

Why it matters: As people try to balance resuming parts of their daily lives with controlling their risk of COVID-19, understanding the role of viral load could help tailor public health measures and patient care.

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