Chairman and CEO, Pfizer
Total 2014 Compensation: $23.28 million
Pfizer CEO Ian Read made the biggest headlines last year for trying--and failing--to pull off what would have been the biggest deal of 2014, his proposed $100 billion-plus buyout of AstraZeneca ($AZN). And Pfizer's ($PFE) forecast for 2015 is somewhat stormy, what with early Celebrex generics taking a bite out of the top line.
Still, Read got something of a pay bump for 2014, with a total package of $23.3 million--more than one-quarter bigger than the previous year's total. A big chunk of that increase came in the value of his pension, however; back that out, and Read's compensation only grew by $280,000.
Read took a $400,000 cut to his cash incentive pay, collecting $3 million rather than the $3.4 million he won for 2013. That was offset by a $700,000-plus increase in stock and option awards, however. And Read's base salary ticked up to $1.815 million from $1.78 million, a $39,000 increase.
Since Pfizer put up that 2015 forecast, the company announced it would shell out $18 million for Hospira ($HSP) in a big move into biosimilars. That deal triggered some smiles; analysts, for one, saw it as a way to build up Pfizer's established products unit. And building up that unit, as Pfizer-watchers know, is one prerequisite for the big company split-up that could come in 2017.
Meanwhile, the company's newer drugs were racking up enough sales to drive a first-quarter beat on revenue, with anticoagulant Eliquis and fast-growing vaccine Prevnar 13 chipping in. Plus, Pfizer has also been able to brag about its new breast cancer drug Ibrance, which won accelerated approval in February, and is already pegged to reach $3 billion to $5 billion in sales. Its early launch numbers were good enough for Read to disclose at the time, with $38 million in sales by the end of the first quarter--$3 million more than expected.
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