John Lechleiter - Eli Lilly

John Lechleiter - Eli Lilly
Total Compensation: $16.4 million

Details: Lechleiter's gross dipped slightly from 2010 to 2011--when he made $16.5 million--mostly due to a decrease in stock awards. That amount dropped from $8.2 million two years ago to $5.6 million last year, a difference nearly negated by the $2.8 million boost to his pension value, which now sits at $6.8 million.

Like nearly all the others in Big Pharma, Lilly ($LLY) has been bracing itself for a decline in revenues, and Lechleiter has maintained all along that a successful business can't cut its way to profitability. So, while the company has frozen many top salaries to cope with the loss of the patent for antipsychotic Zyprexa and prepare for antidepressant Cymbalta to suffer the same fate, Lechleiter has redoubled his focus on Lilly's pipeline. The company is banking on its R&D department to cook up another blockbuster, and the drugmaker might be onto something: Solanezumab, an in-development Alzheimer's treatment, could bring in $9 billion if it's approved, according to one analyst. The catch: Most analysts also add that the odds of success in Phase III are remarkably slim.

John Lechleiter - Eli Lilly
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