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Archive for the ‘Executive Compensation – Big Pharma’ Category


2018 CEO’s Compensation in Health Companies – Highest $99 Million to mid range $20 Million

Reporter: Aviva Lev-Ari, PhD, RN

 

First look at health CEOs’ 2018 pay

My colleague Bob Herman has been busy digging through newly filed proxy documents for large health care corporations, which provide a glimpse into how much top executives made in 2018.

Between the lines: CEO pay in this analysis is based on actual realized gains of stock. Bob compared those numbers, as well as the average median employee compensation, to 2017’s results. Here’s how it stacks up:

Intuitive Surgical

  • CEO Gary Guthart: $99.2 million (up 210% from 2017)
  • Median employee: $163,552 (up 4% from 2017)

Johnson & Johnson

  • CEO Alex Gorsky: $46.4 million (up 55% from 2017)
  • Median employee: $75,000 (up 14% from 2017)

AbbVie

  • CEO Richard Gonzalez: $28.5 million (down 62% from 2017)
  • Median employee: $148,823 (down 5% from 2017)

Humana

  • CEO Bruce Broussard: $27.2 million (down 20% from 2017)
  • Median employee: $70,498 (up 23% from 2017)

Centene

  • CEO Michael Neidorff: $21.1 million (down 15% from 2017)
  • Median employee: $66,021 (down 1% from 2017)

SOURCE

From: Sam Baker <baker@axios.com>

Date: Thursday, March 14, 2019 at 6:18 AM

To: Aviva Lev-Ari <AvivaLev-Ari@alum.berkeley.edu>

Subject: Axios Vitals: CRISPR babies — FDA releases vaping proposal — CEOs’ pay

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Executive Compensation of Big Pharma in 2016 & 2017 New Teva’s CEO, Third from the Top paid among his peers

 

Reporter: Aviva Lev- Ari, PhD, RN

 

This is a QUOTE from FiercePharma

http://www.fiercepharma.com/pharma/teva-poaches-lundbeck-chief-schultz-52m-package?utm_medium=nl&utm_source=internal&mrkid=993697&mkt_tok=eyJpIjoiTkdFelpqZGxaamxoT0dNMSIsInQiOiJLcjlnb2RqQ1hWVU9IU0F4NCt3Kzl0QlNDOFh2SldHMTlyOUMzcUxMc2xZMTNHYkJzY09TOUJsRXFnZEVVYkdWNzNiVVpVY1wveDRyRUo5dWpjUWtPVmhqTmZSbzVsUFhXUDVJOTR2TkxvRWJDcnN3bjc4N0ZDd0VOUnBuN1g2dHAifQ%3D%3D

Teva enticed Schultz with a pay and welcome package worth up to $52 million, including $20 million in cash upfront, according to an SEC filing on the Monday hire. The new helmsman will also receive a restricted stock award of $5 million and two performance unit stock awards each worth $7.5 million.

Schultz’s base salary is $2 million, with an annual bonus opportunity worth 140% to 200% of his salary. Under the agreement, he’ll also receive $6 million in annual equity incentives.

For Teva, the pay will be well worth it if Schultz is able to engineer a turnaround. The Israeli drugmaker has had its stock price and business prospects battered over the last year as the generic pricing environment worsens and other threats continue to unfold. Knowing the challenges the company faced, Teva’s board said during the search that it was looking for a world-class pharma vet.

And Schultz has fixed things at an ailing drugmaker before. After Lundbeck’s former CEO stepped down and as it was laboring to launch new meds, it hired Schultz in 2015. He had already made a name for himself during a long tenure at Novo Nordisk and during his two years at Lundbeck, he won praise for improving revenue and profits.

If ranked among last year’s top-paid pharma executives, Schultz package would place him at No. 3, behind Mylan chairman Robert Coury’s $97 million and Valeant CEO Joseph Papa’s $62.7 million. Like Schultz, Papa also joined a drugmaker suffering from a barrage of negative developments in recent years.

Aside from tough pricing on generics, Teva is also dealing with a price fixing investigation and a generic threat to key multiple sclerosis drug Copaxone. The company recently kicked off a restructuring set to affect 7,000 employees around the world after its $40.5 billion buyout of Allergan’s generic business became more of a drag than a boost for the company.

 

RELATED: The top 15 highest-paid biopharma executives

SOURCE

http://www.fiercepharma.com/special-report/top-15-highest-paid-biopharma-executives

 

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