("Allergan CEO 2010 Total Compensation Valued At $12.6M" at 6:15
p.m. EST March 8 misstated the percentage change in Ball's total
compensation in the fourth paragraph. The correct version
follows.)
DOW JONES NEWSWIRES
Allergan Inc. (AGN) Chief Executive David E.I. Pyott received
compensation valued at $12.6 million in 2010, up 5.5% from the
prior year.
Allergan, a drug manufacturer best known for its Botox
wrinkle-fighting injections and its stomach-shrinking Lap-band
product, has seen its top line rise recently thanks to higher sales
of its medical devices and regulatory approvals that opened up its
treatments to new markets.
The year-on-year change in Pyott's total compensation value
mostly stemmed from an increase in pension value and nonqualified
deferred compensation earnings. The value in 2010 for Pyott was 67%
higher than in 2009.
According to a filing with the Securities and Exchange
Commission, Allergan also reported that President F. Michael Ball
received compensation valued at $4.8 million last year, up 22% from
the year before. However, his 2010 compensation was close to that
in 2008. On Monday, Hospira Inc. (HSP) announced Ball would be its
new chief executive starting March 28.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com