Chairman and CEO, Baxter International
Total Compensation: $17.521 million
Professional Profile: Robert Parkinson's tenure at Baxter ($BAX) is his second pharma career. Now 62, he retired from Abbott Laboratories ($ABT) in 2001 after 25 years there, ending as president and COO. Then, he took a hiatus from the industry, serving as dean of the Loyola University Chicago business school. In 2004, he signed on as Baxter's CEO.
Compensation Breakdown: $1.45 million in salary, $6.35 million in stock, $3.92 million in options and $4.28 million in incentive pay, plus $1.51 million worth of pension growth and deferred compensation and $9,012 worth of perks and other compensation.
Company Performance: Parkinson had his share of problems to wrestle with at Baxter last year. The Securities and Exchange Commission began a probe of the company's series of infusion pump recalls, including the Colleague pump fiasco, which ended with an FDA-ordered withdrawal from the market. The FDA held out for more data on an immune-deficiency drug Baxter is developing with Halozyme Therapeutics ($HALO), dubbed HyQ. And the company issued two new recalls: one in April affecting its Automix compounder device and another in November, after the FDA flagged embolism risks associated with its Interlink and Clearlink infusion sets.
But Baxter successfully rolled out products in new markets, including China and Brazil, boosting its emerging markets sales to 20% of total revenue. It started construction on a new plasma facility to pump up production for growing therapies such as Gammagard. And it sewed up a deal to buy dialysis rival Gambro for about $4 billion. Its shares were the fourth-best performing in pharma last year, with a gain of 36% by the end of November.
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