AstraZeneca CEO Soriot scored $18.5M pay package amid oncology, rare disease rebrand

soriot
2019 was CEO Pascal Soriot's seventh year at the AstraZeneca helm. (AZ)

For AstraZeneca, 2019 was the year of the rebrand as the global drugmaker worked through an ambitious pivot to oncology and rare diseases. For CEO Pascal Soriot, the company's reimagining was not only a breath of fresh air for the drugmaker's portfolio but also a lucrative turn for his own pocketbook. 

Soriot secured £14.3 million ($18.54 million) in total pay in 2019, a roughly 26% increase from the £11.36 million ($14.73 million) he earned the previous year, according to AstraZeneca's annual report (PDF).

Of Soriot's total pay package, £1.8 million came in the form of base salary with an additional £1.9 million annual bonus, £6.3 million in long-term incentives and dividend equivalents and £4.3 million in share appreciation and dividends, the company said.

Webinar

De-risking the Development of Biotherapeutics Using Early Stage In Vitro Expression and Genetic Characterisation Tools

Wednesday, July 8, 2020 | 11am EST / 8am PST

This webinar will describe strategies to mitigate risks, reduce attrition and help improve the quality and safety of your drug candidate.

Soriot's base salary jumped from £1.2 million in 2018 with his long-term incentive pay dropping from its 2018 total of £7.67 million, the company said. 

RELATED: Drugmakers rebranding around oncology, rare diseases could provide 2020 preview 

Suggested Articles

Johnson & Johnson has expanded its COVID-19 vaccine production pact with CDMO Catalent to include work at the manufacturer's Anagni, Italy site.

German vaccine maker CureVac scored an $85 million EU loan to expand manufacturing for its mRNA-based COVID-19 vaccine hopeful.

Learn how drug substance and drug product early development strategies are important for optimization and long-term success.