Win McNamee
Pfizer (NYSE:PFE) Chief Government and Chairman Albert Bourla will seemingly change into one of many top-earning pharma CEOs for 2022 after the pharma large took his complete compensation to $33.0M handing him a ~36% pay hike for final 12 months.
In the meantime, Johnson & Johnson (JNJ), whose former helmsman Alex Gorsky was the highest-paid pharma CEO in 2021, rewarded its new CEO Joaquin Duato, with a $13.1M package deal, indicating a ~51% decline within the firm’s prime government pay.
Gorsky relinquished his CEO position in 2022 after a decade-long tenure as its chairman and CEO, whereas Bourla, 61, is now serving in his fourth 12 months within the twin management place.
In 2021, Bourla earned $24.4M, after a ~16% rise from the prior 12 months as the corporate’s prime line jumped ~95% YoY because of its blockbuster COVID-19 shot which accounted for over 45% of the highest line.
Nonetheless, Pfizer’s (PFE) explosive development sputtered, and its share worth fell because the pandemic subsided. The corporate income reached $10.3B in 2022, which means a ~23% YoY rise, however nonetheless signifies greater than double that in 2020.
After a ~59% climb in 2021, its share worth tumbled ~13%, underperforming its mega-cap pharma rivals, as indicated on this graph.
Bourla’s 2022 pay additionally demonstrates a ~42% rise in his equity-based compensation and a ~4% decline in his non-equity-based incentives, which stand at $18.8M and $7.7M, respectively, in line with Pfizer’s newest proxy assertion.
In the meantime, Stéphane Bancel, CEO of rival COVID vaccine maker Moderna (MRNA), earned $19.4M in 2022 after the Massachusetts-based biotech raised his complete compensation by ~7%.
Having recorded $18.5B in income for 2021, Moderna’s (MRNA) prime line reached $19.3B final 12 months, indicating a ~4% YoY rise whereas its share worth plummeted ~29%, following a ~141% bounce within the prior 12 months.
Pfizer (PFE) says that the corporate’s government compensation implies a median of compensation knowledge from its massive pharma friends and a bunch of non-pharmaceutical firms of comparable measurement and complexity.
The pharma friends it has thought-about embrace AbbVie (ABBV) and Eli Lilly (LLY), the place prime administration earned $26.3M and $21.4M for 2022, indicating a ~10% rise and ~1% decline of their pay from the prior 12 months, respectively.
