How Much Did These Pharma CEOs Earn in 2017?
For those select few who achieve the role of chief executive officer of a multi-national corporation, the compensation packages are typically quite large – especially when compared to the average salaries of company employees.
An analysis conducted by 24/7 Wall Street revealed the compensation packages of some of the world’s biggest companies and their CEOs. Many of the compensation packages are seven and eight figures. Of the 101 highest-paid CEOs, eight of those come from the pharmaceutical industry. The compensation data was based on revenue for the year ended Dec. 31, 2017, according to a report in The Daily Mail.
The pharma CEO with the highest compensation during that time period was Gilead Sciences' John Milligan, who stepped down from his role at the California-based company at the end of 2018. According to the report, Milligan made $26 million in total compensation for the reporting period. During that same year, Gilead Sciences posted revenues of $26.1 billion, the Daily Mail said. Milligan’s compensation earned him the 10th place spot on the list of 101 CEOs.
In thirteenth place was Miles White of Abbott Laboratories. White received a $24.3 million compensation package at the company, which had $27.4 billion in revenue for the reporting period, according to the report.
Coming in at number 27 is AbbVie’s Richard Gonzales. For the year ending Dec. 31, 2017, Gonzales took home with total compensation of $21.3 million. That year, AbbVie’s top-selling drug Humira generated about $17 billion in revenue for the Illinois-based company.
Merck’s Kenneth Frazier earned $20.9 million in 2017, according to the report. That total compensation placed him at number 30 on the 24/7 Wall Street list. Close behind Frazier is Pfizer’s Ian Read, who came in at number 36 on the list with total compensation of $19 million.
Robert Bardway, CEO of Amgen, logged the 45 spot with total compensation of $18.6 million and Johnson & Johnson’s Alex Gorsky claimed the 48 spot with a compensation of $18.2 million.
The last pharma CEO to earn a spot in the top 101 of highest compensated CEOs is Eli Lilly’s David Ricks. In 2017 he earned a total compensation of $17.2 million, according to the report. 2017 was Ricks first year as CEO of the Indianapolis-based company. His tenure began with a shakeup of leadership and company organization as it looked to recover from its failed Alzheimer’s drug, solanezumab.
In addition to the pharma CEOs, the list also included a few other CEOs from life science-related companies. Larry Merlo of CVS Health earned $21.9 million and Stefano Pessina of Walgreens Boots Alliance took home $13.5 million. They came in at 23 and 81, respectively on the compensation list. Timothy Wentworth of Express Scripts took home $15.9 million and came in at number 66 on the list.