- My Account
- Logout
- Register
- Login
£1m bonus for 'Elephant Man' drug boss: nothing for victims
Related Articles
03 November 2006
The payment, in the form of a bumper cash and share package, has provoked a storm of protest. One lawyer acting for the "Elephant Man" drug trial volunteers branded the bonus an insult to his clients.
The latest annual accounts of Parexel, the US firm that conducted the catastrophic trial at Northwick Park, show it rewarded chief executive and chairman Josef H von Rickenbach a bonus package worth $1.8m - made up of a $286,157 cash bonus and $1,469,490 in shares in the company he founded.
His basic salary also rose to $465,750, bringing his total package to $2,221,397 in 2006 - an increase of almost $1.8m or £1m on his earnings the previous year.
The accounts were published last week in the US, six months after the disastrous events at the company's London clinic.
Four other senior executives on the board have also benefitted despite Parexel being criticised for its role in the trial blunder.
The company, based in Massachusetts, faces being sued for tens of millions of pounds by the Northwick Park volunteers who were each paid £2,000 to test a new drug TGN 1412 developed by a German biopharmaceutical company.
Other than a £10,000 interim payment made in March, the six men, who suffered multiple organ failure, have yet to receive any compensation.
Their limbs and heads swelled to up to three times their normal size, prompting one of the victims to be described as looking like the Elephant Man.
All face an uncertain future with their long term health in doubt. Ryan Wilson, the worse affected, has had ten toes and several fingers amputated. The 20-year-old was in hospital for 147 days.
Experts fear the men may now be susceptible to the kind of illnesses - including leukaemia, multiple sclerosis and rheumatoid arthritis - which TGN1412 was supposed to treat in the first place.
Lawyer Martyn Day said: "It is an insult to our clients that Mr von Rickenbach can be paid a huge bonus when my clients have not received a penny in compensation.î
Mr von Rickenbach, 51, the chairman of the board and chief executive officer, founded Parexel in 1983.
Lawyers allege the company should pay compensation because of a number of errors that at least exacerbated the problems caused by TGN 1412.
A report into the trial by the Medicines and Health Care Products Regulatory Agency, the regulatory watchdog, said Parexel had failed to follow several procedures.
A spokeswoman for Parexel declined to comment.
Comments
Top stories in News
Top stories in News
-
No end to Tube nightmare as commuters warned of MORE chaos tonight
-
Double dip recession is worse than feared as UK faces ‘hurricane’
-
Mayor demands report from Transport for London into Jubilee Line nightmare that left hundreds of commuters trapped for hours underground
-
They attacked "like a pack" raining fists on a defenceless legal secretary. Yesterday they walked free from court. No wonder their victim says she has been denied justice.
-
Friends of football fan killed after Champions League final tell of 'horror' scene of his death
The O2
Check out the cool stuff happening under our tent such as the hottest gigs, comedy, sport, films, clubs, bars, restaurants and much more.
Can you imagine a career in teaching?
Be inspired to teach - let real teachers show you how rewarding the job can be.
Playing a game-changing role during the Games
Cisco is providing the solutions for London 2012's complex IT needs.
Win a Silverstone track day with Zantac 75
Feel the burn of a different kind - 20 Silverstone motoring experiences to be won
Reader Offers email A fantastic selection of
offers, giveaways and
promotions.
Cannes Film Festival - in pictures
Biggest ever image of the Queen, and she also appears made out of stamps, cheese and BEER
Man v Woman v Food: the big burger challenge
New kids from the Bloc: new wave of Russians settling in London
London drug dealer pictured himself with bags of cannabis and wearing crown of £20 notes
BarChick: Janet's Bar