Illustration: Colourbox

Av Anders Göransson den 19 juni 2024 15:56

The pharmaceutical site Fierce Pharma has done its annual review of the compensation for the top managers of the world's largest pharmaceutical companies, and it is not entirely unexpected that the CEO of Johnson & Johnson - the world's largest pharmaceutical company by number of employees - is at the top.

Joaquin Duato took over from Alex Gorsky in 2022 and has apparently pleased the board, as his compensation including bonuses more than doubled in 2023 to $28.4 million, which equates to almost SEK 300 million. That compares to the median income for J&J employees, which according to Fierce Pharma landed at about $84,000.

Second on the list is David Ricks, CEO of Eli Lilly, who was compensated for his work with $26.6 million. The company is currently riding a wave of success, increasing sales by 20 percent last year, largely thanks to its diabetes and obesity drugs.

Third place went more surprisingly to Richard Francis, CEO of Israeli-American Teva, who received $25.7 million, despite the fact that the company is not even among the ten largest in the world

The majority of the compensation consisted of a payment in shares, which he received as a "sign on bonus" when he was hired in early 2023.

It can also be noted that Astra Zeneca CEO Pascal Soriot landed in eighth place with $21.3 million. He is followed by the only woman on the list, Reshma Kewalramani, CEO of Vertex Pharmaceuticals, with $20.6 million.

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