Top 6 Highest-Paid Pharmaceutical CEOs of 2024 Earn Over $200 Million Combined Amid Blockbuster Drug Successes

Apr 18, 2025 07:31 CST Updated 07:31

Johnson & Johnson

Medical Device R&D and Manufacturer

In 2024, the compensation landscape for CEOs of global pharmaceutical companies is undergoing significant changes. According to statistics from the industry-renowned media Biospace, the CEO of Eli Lilly...David Ricks topped the list with an annual total compensation of $29.2 million (approximately 213 million yuan), ending the reign of Johnson & Johnson's CEO.Joaquin Duato's Consecutive Championship Record.

According toBiospace reported,David Ricks' Raise (+10%）andLilly's blockbuster weight-loss drug Zepbound has achieved excellent commercial results.

Among the top three in compensation ranking, Pfizer CEOAlbert Bourla ranked second with $24.6 million, a 14% increase in salary year-over-year; whileJohnson & Johnson CEOJoaquin DuatoSalary decreased by 14% year-on-year to $24.6 million, ranking third. The CEOs of Amgen, Gilead, and Merck ranked fourth to sixth, respectively, with compensation exceeding $23 million.

CEO of Eli Lilly David Ricks

2024 Compensation: $29.2 Million

Year-on-Year Change: Increased by 10%

From all aspects, 2024 was a rather successful year for Eli Lilly and Company. According to the company's annual report,Ricks led the team to achieve 32% revenue growth, with total revenue reaching $45 billion. Non-GAAP earnings per share soared by 106% to $12.99. Under his leadership, the Alzheimer's monoclonal antibody drug Kisunla was finally approved, and Ebglyss also received FDA approval for Crohn's disease indications.

In addition, the company has achieved positive data results in several key studies, particularly the research findings of tirzepatide in the fields of heart failure and diabetes risk reduction are remarkable. In terms of transactions,Ricks led the completion of the acquisition of Morphic Holdings, further strengthening Lilly's R&D pipeline.

He also promoted the construction of new R&D centers and production facilities, and launched LillyDirect, an online platform directly面向消费者的, providing patients with a convenient way to access Eli Lilly's drugs, such as the popular weight-loss medication Zepbound.

These impressive achievements have earned Ricks, who has been serving as CEO of Eli Lilly since 2017, compensation that exceeded expectations, fully reflecting the board's recognition of his leadership abilities.

CEO of Pfizer Albert Bourla

2024 Compensation: $24.6 Million

Year-on-year change: Increased by 14%

In 2024, with the dwindling of the COVID-19 vaccine dividend and mounting performance pressures, Albert Bourla led Pfizer into a strategic transformation. According to the company’s annual report, he spearheaded a large-scale optimization project named the "Cost Restructuring Plan," successfully cutting $4 billion in costs.

The impressive results of cost reduction and efficiency enhancement have prompted the board to generously reward through stock options and other incentives, despite the pressure on performance.Bourla's salary increased by 14%.

Board of DirectorsBourla's evaluation also includes his contributions to the transformation of the business operation model and the promotion of 14 drug regulatory approvals in key areas such as oncology. These achievements have injected a strong boost into Pfizer's continued development in the post-pandemic era.

Notably, although most pharmaceutical companies have yet to announce their 2025 executive compensation plans, Pfizer has already set Albert Bourla's salary for next year at $23.4 million, reflecting the board's strong support for his long-term strategy.

Johnson & Johnson CEO Joaquin Duato

2024 Compensation: $24.6 Million

Year-on-year change: Decreased by 14%

2024Year, Johnson & Johnson CEOJoaquin Duato withA slight gap of less than $100,000 behind PfizerBourla, ranked third on the list of executive compensation. Nevertheless, according toJohnson & Johnson Board Evaluation,Duato's Performance"Exceeded the annual target." Under his leadership, Johnson & Johnson exceeded expectations in three key metrics: operational sales, adjusted operational earnings per share, and free cash flow.

As a reward,Duato received an annual performance bonus equivalent to 115% of the target value, as well as long-term incentive plan earnings at 130% of the target value, resulting in a total compensation exceeding $24.5 million (rounded to $24.6 million). This figure represents a 14% decrease from 2023, but the board emphasized that his compensation structure is directly tied to company performance, reflecting the principle of "value creation first."

Looking ahead to 2025, Johnson & Johnson announced that it will maintainDuato's base salary of $1.6 million remains unchanged, while his long-term incentive plan continues to be performance-oriented. This decision upholds the company’s management philosophy of "clear rewards and penalties, focusing on long-term value."

Amgen CEO Robert Bradway

2024 Compensation: $24.4 Million

Year-on-year change: Increased by 8%

Amgen Board of Directors inIn Robert Bradway's compensation statement, his work was acknowledged.Highly Recognized: The acquisition of Horizon Therapeutics that he led (which concluded in 2023 after a prolonged tug-of-war with the Federal Trade Commission (FTC)) and the efficient execution of Amgen's strategic objectives have both been highly acknowledged by the Chairman of the Board (i.e.,An endorsement from Bradway himself.

In 2024, Amgen's keyword is "catching up." As a "latecomer" following Novo Nordisk and Eli Lilly, its product MariTide is attempting to capture market share in the weight-loss drug sector. Clinical data released in November last year showed that MariTide’s weight-loss efficacy was on par with Eli Lilly's Zepbound and demonstrated "clinically meaningful improvements" in cardiometabolic indicators such as blood pressure and triglycerides. However, the data fell short of market expectations, causing Amgen's stock price to drop immediately. Currently,MariTide is administered once a month, significantly outperforming competing products that require weekly injections or daily oral regimens, which may become its core competitive advantage.

In addition,Bradway’s push in 2023 to expand Amgen’s $1 billion manufacturing base in North Carolina further solidified the company’s localized production strategy. This forward-looking decision came amid threats of tariff hikes by the Trump administration, prompting major pharmaceutical companies, including Johnson & Johnson and Eli Lilly, to accelerate the relocation of their production capacity back to the United States.

It is worth noting that, despite 2024,Salary Comparison 2An 8% increase in 2023, but Amgen's board compensation strategy has always been strongly tied to performance:Bradway's compensation includes an annual performance bonus reaching 115% of the target value, and a long-term incentive plan at 130%, fully reflecting the reward mechanism for "exceeding targets."

Gilead CEO Daniel O’Day

2024 Compensation: $23.7 Million

Year-on-year change: Increased by 5%

In 2024, Gilead's focus is on the commercial advancement and strategic adjustments of key products. According to the company's annual report,O’Day led the team to completeHIV Drug Lenacapavir Administered Every Six MonthsThe submission of the FDA marketing application (officially filed in December last year) and the continued growth of the daily oral HIV drug Biktarvy have become the "highlights" specifically mentioned by the board in the compensation report.

However, to ensure the smooth launch of lenacapavir,O’Day Team Announces Radical Move:Announced layoffs of approximately 150 people in AprilThe company described the move as "resource optimization, paving the way for the commercialization of lenacapavir."

Other Key AdvancesIncluding the expansion of the cell therapy pipeline through its cell therapy subsidiary, Kite.O’Day's 2024 salary increased by 5%, primarily due to a $12.4 million stock award, which is directly tied to the company’s incentive mechanism for the execution of its long-term strategy.

Behind-the-Scenes ActionsIn China,O’Day Led the Restructuring of the Long-Term Partnership with Galapagos. The Multi-Billion-Dollar Collaboration Had Stalled Following Several Failed Clinical Trials. He Recently Stated Publicly: "This High-Profile Deal Fell Short of Expectations." Currently, Both Parties Have Established a New Company to Take Over the Remaining Assets of the Partnership.

The board's compensation decisions highlight the focus onO’Day’s Recognition of "Crisis Management and Strategic Correction Ability" — His leadership in the iteration of the HIV pipeline and the reconstruction of partner relationships has laid the foundation for Gilead's sustainable development.

CEO of Merck & Co. Robert Davis

2024 Compensation: $23 Million

Year-on-Year Change: Increased by 14%

Since taking over in 2021,Robert DavisThe compensation has surpassed that of former CEO Ken Frazier for the first time, whose total annual compensation was $22.1 million when he stepped down in 2020.

DavisThe core challenge faced upon taking office was for Merck's"Cash Cow" DrugsKeytruda Seeks Successor Product. 2024,KeytrudaSalesIncreased by 22% year-on-year to USD 29 billion, but with its patent expiring in 2028, how to sustain growth has become critical.

To reduce the impact onKeytrudaDependence,Merck & Co.Launched 20 Phase III clinical trials covering the fields of oncology, ophthalmology, and immunology;AcquisitionHarpoon Therapeutics、Eyebiotech，And fromCuronIntroducing tumor assets, withHansoh、LaNovaReach a heavyweight licensing agreement.

The third quarter of last year,Due toGardasil HPV VaccineBlocked in the Chinese market, MerckDown-regulationFinishedFull-year sales expectations, but analysts remain optimistic about the company's overall growth prospects. The board emphasized in the compensation report,Davis laid the foundation for Merck's post-patent era transformation through the dual drivers of "proactive mergers and acquisitions + pipeline expansion."

Reference: https://www.biospace.com/business/top-6-highest-paid-pharma-ceos-in-2024

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