Pharmaceutical executives massive salaries see them head up US top earners lists
New US executive ‘rich lists’ have revealed the incredible rise of cutting-edge biopharma manufacturers
Biopharma and healthcare CEOs are now the highest-paid group on the S&P 500, according to an annual study by a US executive compensation consulting firm.
Leading the way is Leonard Schleifer, CEO of biopharma firm Regeneron with a US$47.4 million (A$66.1 million) 2015 package – fourth overall in the list of 341 executives.
The CEOs of Celgene and Vertex Pharmaceuticals, two more of the newer wave of bioceuticals manufacturers were also very high on the list.
Leading the way for traditional big pharma executives is Johnson & Johnson ($JNJ) CEO Alex Gorsky with a US$21.1 million (A$29.4 million), and Ken Frazier of Merck & Co at US$19.9 (A$27.7) million in 2015 compensation.
In total seven of the 10 leading healthcare executives were from pharma or biopharma companies, and the latter group dominated the top 20 – holding nine of these places.
Amazingly, the highest-paid biopharma chief in 2015 wasn’t even on the list. Horizon Pharma CEO Timothy Walbert brought in an unusually high amount, according to US website Fierce Pharma: US$93 million (A$129.8 million) but missed the list because his company isn’t part of the S&P 500.
Click here for the top 20 pharma salary earners