After a period of leadership transition for many of the world’s top drugmakers in recent years, the industry’s CEO pay rankings appear to be returning to a state of equilibrium.
One surefire sign things are starting to balance out when it comes to C-suite compensation? The fact that a Johnson & Johnson helmsman has once again topped the list.
At the head of the pack for Big Pharma CEO pay last year was J&J’s Joaquin Duato, who saw his total pay leap a staggering 116% to $28.4 million. Duato took over from longtime helmsman—and serial top contender on Fierce’s pay rankings—Alex Gorsky in early 2022, but the chief executive’s pay package of $13.1 million that year precluded him from the annual roster.
With Duato at the top, it’s little surprise then that Eli Lilly’s CEO David Ricks landed in the No. 2 spot. Ricks’ 2023 compensation of $26.6 million marked the executive’s highest total to date, and it came during a period of strength for Lilly: The company’s global sales climbed 20% last year thanks to its immensely popular offerings in diabetes and obesity.
