Abbott wins pharma pay prize (so far)

This may be the biggest Pharma Chief paycheck we've seen so far: Abbott Laboratories' CEO Miles White (photo) made $33.4 million last year, up 24 percent from 2006. The pay hike was rooted in the value of his stock options: $14.8 million in 2007 versus $8.5 million in 2006. His base salary was virtually the same.

According to our records, the only pharma exec who brought in more was Pfizer Vice Chairman David Shedlarz, who took away $34.2 million when he retired last year. But there are more proxy statements on their way, so stay tuned.

- read the article from the Wall Street Journal Health Blog

ALSO: Abbott and Takeda made a deal to split their joint venture TAP Pharmaceuticals: For $1.5 billion, Takeda will get the rights to Prevacid and other products in development, including a potential Prevacid successor; Abbott takes away the rights to Lupron, which counts $600 million in annual sales. The deal gives Takeda a bigger foothold in the U.S. market. Release

Related Articles:
Genentech CEO snags $14M in pay as shares swoon. Report
J&J hikes CEO's pay to $25.1M. Report
AstraZeneca's CEO sees 19% pay cut. Report
Merck chief got 80% pay hike. Report

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