Pfizer CEO Albert Bourla Earns Over $21 Million in 2020 Amid COVID-19 Vaccine Success

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Thanks to the success of its COVID-19 vaccine, pharmaceutical giant Pfizer has become a household name worldwide. The company’s sales are expected to reach $15 billion this year, while CEO Albert Bourla received compensation worth more than $21 million.

A proxy statement filed last Friday revealed that Albert Bourla, who assumed the role of CEO of Pfizer in early 2019, received total compensation of $21.03 million in 2020. Mr. Bourla’s compensation package comprised a $1.65 million salary, $5.49 million in cash incentive compensation, and $14 million in long-term incentive awards granted in the form of Pfizer stock options. In the previous year, which marked his first year as CEO, his total compensation amounted to $19.7 million.

For Pfizer and the global economy as a whole, last year was defined by the COVID-19 pandemic. Thanks to its rapid response and vaccine partnership with BioNTech, the company’s COVID-19 vaccine is in high demand worldwide. Last year, Pfizer swiftly advanced its vaccine candidate through clinical trials, and in December, the Pfizer/BioNTech vaccine received the U.S. Food and Drug Administration’s first Emergency Use Authorization for a COVID-19 vaccine.

Pfizer is currently rolling out this product in the United States, Europe, and other regions. Pfizer and BioNTech aim to produce 2 billion doses in 2021, with Pfizer stating that sales this year could reach or exceed $15 billion.

Albert Bourla’s 2020 compensation was approximately the median among the currently disclosed salaries of CEOs at major pharmaceutical companies. For instance, Johnson & Johnson’s Alex Gorsky received nearly $30 million, while Eli Lilly’s CEO David Ricks had a total compensation package of $23.7 million, and AstraZeneca’s CEO Pascal Soriot received $21.5 million. Sanofi’s CEO Paul Hudson earned $13.6 million last year, Novartis’s Vas Narasimhan received $11.6 million last year, and GlaxoSmithKline’s CEO Emma Walmsley’s 2020 compensation amounted to approximately $9.7 million.

References:

1.Pfizer, riding high on COVID-19 vaccine launch, pays CEO Bourla $21 million for 2020

2.Pfizer's big split is finally here, thanks to a giant generics merger with Mylan