Year by year, drugmakers disclose the compensation they hand out to top executives. But the year-by-year numbers don't tell the full story. As Reuters notes, CEOs have reaped payoffs much bigger than proxy filings estimate, as long-term share awards meet big stock gains.
Last year, GlaxoSmithKline announced plans to slim down its Research Triangle Park, NC-based operations, chopping 900 jobs. Now, it's telling state officials that almost 200 workers are heading for the door.
Regeneron chief Len Schleifer has topped the ranks of biopharma's highest-paid skippers for the past couple of years now, and though his salary may be rising still, being CEO doesn't quite come with all the perks it used to.
Times have been tough for Daiichi Sankyo, and they're about to get tougher for some of the Japanese company's U.S. staffers. The drugmaker is cutting its headquarters staff by 16% on Monday, with more layoffs expected in mid-April.
For the first couple of years after AbbVie's debut as an independent pharma company, its CEO, Richard Gonzalez, didn't quite follow in Abbott Laboratories CEO Miles White's footsteps compensation-wise, collecting a mere $8 million in 2012 pay. But for 2014, Gonzalez's total compensation amounted to $22 million, according to AbbVie's proxy statement.
Welcome to this week's Chutes and Ladders, our roundup of hirings and retirings throughout the industry. Please send the good word--or the bad--from your shop to Michael Gibney (email | Twitter)...
Merck KGaA is the latest company to join Big Pharma's recent round of executive musical chairs. The German drugmaker is promoting deputy chief executive Stefan Oschmann to replace current CEO Karl-Ludwig Kley as the company's top dog.
Valeant wasn't the only one that scored a win when Salix Pharmaceuticals agreed to its $173-per-share buyout offer. Two former Salix execs--who left the company recently amid inventory issues--will make a pretty penny on the deal as well.
Several years ago, Novartis agreed to pay $175 million to settle a high-profile gender discrimination lawsuit focused on its U.S. sales operations. Now, the Swiss drugmaker faces a new discrimination fight at its Texas-based Alcon unit.
Allergan Chairman and CEO David Pyott fought long and hard to keep Valeant Pharmaceuticals from taking over his company. He engineered a $66 billion sale to ambitious Actavis instead, and the Allergan name now lives on as the merged company's moniker. But Pyott won't be sticking around to enjoy the results.