7 Pharma Execs Testified Before The Senate On Drug Prices. Here’s How Many Millions They Make A Year
Five of the seven pharmaceutical companies who sent executives to testify on drug pricing before the Senate Finance Committee Tuesday have the top-25 highest paid pharma CEOs for companies in the S&P 500.
CEOs from AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Pfizer and Sanofi plus Johnson & Johnson’s executive vice president of pharmaceuticals, Jennifer Taubert, were grilled by Senate Finance Chair Chuck Grassley and other lawmakers at the hearing.
Altogether, the top-25 CEOs whose companies were represented Tuesday received a combined $116,671,792 in compensation, including stock and stock options, in 2017, according to analysis by The Wall Street Journal. That number includes annual compensation for former Pfizer CEO Ian Read, who ceded the position to new CEO Albert Bourla in January. Bourla testified before the committee Tuesday.
Johnson & Johnson CEO Alex Gorsky rakes in the most out of the CEOs, with yearly compensation valued at $29,802,564, according to The WSJ. Taubert, who repped Johnson & Johnson and its pharmaceutical arm Janssen at Tuesday’s hearing, has no annual compensation data available according to Bloomberg. (RELATED: Grassley Reminds Pharma CEOs How Much Drug List Prices Matter During Hearing)
The runner-up is former Pfizer CEO Ian Read, who had yearly compensation of more than $27 million. He had agreed to delay implementing proposed prescription drug price increases after speaking with President Donald Trump in July. Trump told the company it should be “ashamed” of its price increases in a July 9 tweet.
The CEOs of Abbvie and Bristol-Myers Squibb round out the top 10 highest-paid executives on The WSJ’s list. AbbVie CEO Richard Gonzalez made more than $22 million in 2017, and Bristol-Myers Squibb CEO Giovanni Caforio made more than $18 million in 2017.
https://dailycaller.com/2019/02/27/pharma-senate-hearing-salary/