Facing Depakote Birth Defects Lawsuits, Abbott CEO's Compensation Drops

Washington, DCWith a number of Depakote birth defects lawsuits on the docket, the chief executive officer (CEO) of Abbott Laboratories, which manufactures the anti-seizure drug, saw his total compensation decrease eight percent last year, The Associated Press reports.

span itemprop="image" itemscope itemtype="https://schema.org/ImageObject" style="display:block">According to the news provider, CEO Miles White received a total compensation package of $20.2 million last year, a decrease from the $22 million he was given in 2009. The numbers were reportedly based on a regulatory form that was filed recently.

The total compensation calculation conducted by the news source reportedly includes salary, bonuses, perks, incentives and the projected value of stock options.

The news source reports that Abbott Laboratories has been able to endure the recession better than a number of its major competitors, but the company's shares have dropped because it has reportedly not developed many new products.

Abbott has also been under fire due to the anti-seizure medication Depakote, which has been linked in a number of lawsuits to specific birth defects, including cleft palate, spina bifida and heart defects.