(Reuters) Hedge fund Sarissa Capital Management LP on Thursday sought a sharp cut in the compensation of Innoviva Inc’s chief executive, the latest salvo by the activist investor in its proxy fight against the drug company. Sarissa has nominated three directors to Innoviva’s board and criticized the company’s cost structure, as well as executive compensation, considering that it only manages drug royalties and does not market or sell any products.
Sarissa, run by billionaire investor Carl Icahn’s former healthcare lieutenant, also called for a pay cut for Innoviva’s board members.
