- BioNTech’s Dr. Ugur Sahin topped Fierce Pharma‘s 2024 list with $287 million, while Pfizer’s Albert Bourla ($24.6 million) and Eli Lilly’s David Ricks ($29.2 million) ranked among the highest-paid, reflecting booming drug sales (e.g., weight-loss drugs, COVID-19 vaccines).
- Executives’ multimillion-dollar payouts contrast sharply with soaring prescription costs, eroding public trust as patients struggle to afford medications like insulin.
- Major firms (Merck, Bristol Myers Squibb, AstraZeneca, J&J) are suing to block Medicare price negotiations, while industry lobbying fights to maintain high drug prices despite evidence of greater spending on stock buybacks than R&D.
- Executives at Pfizer, Moderna and J&J cashed out $250 million in stocks post-Operation Warp Speed, while Moderna’s CEO earned $392 million in 2023 despite missing the 2024 list.
- Critics highlight a rigged system where executive bonuses and corporate profits take priority over affordable healthcare, widening the gap between boardroom gains and patient hardships.
(Natural News)—As Big Pharma executives continue to amass staggering fortunes, patients face soaring prescription costs and dwindling trust in an industry that profits from lifesaving medicines.
Fierce Pharma released its Top 10 highest-paid pharmaceutical executives list for 2024 on Monday, June 16. BioNTech’s Dr. Ugur Sahin topped the list at $287 million – nearly 10 times more than his closest competitor. Eli Lilly’s David Ricks, who landed on No. 2, secured $29.2 million amid booming sales of weight-loss drugs Zepbound and Mounjaro.
Pfizer CEO Albert Bourla landed on No. 3 in the list, with his earnings rebounding to $24.6 million after the Wuhan coronavirus (COVID-19) slump. AstraZeneca’s Pascal Soriot, who pocketed $22.9 million despite investor backlash over bonus hikes, was in ninth place.
The eye-popping figures compiled by Fierce Pharma revealed an elite class of executives whose paychecks dwarf the average American’s lifetime earnings. They also underscored a widening chasm between corporate profits and public health.
While Sahin’s windfall came from cashing out stock options tied to BioNTech’s pandemic-era mRNA vaccine success, Moderna’s Stephane Bancel was conspicuously absent from the list due to his company’s smaller market cap. He remains formidable despite his absence on the 2024 list after raking in $392 million in 2023. (Related: GREED PARADE: Moderna plans to sell COVID-19 vaccine for up to $130 per dose – more than 8 times its initial price of $15.25 per dose.)
Meanwhile, Johnson & Johnson’s Joaquin Duato saw his pay drop 14 percent to $24.6 million – putting him on No. 5 in the list. J&J remains embroiled in costly talc litigation and lawsuits over its discontinued COVID-19 vaccine linked to fatal blood clots.
Big Pharma prioritizes PROFITS over people
Critics argue these payouts reflect a system rigged in favor of executives, even as drugmakers lobby aggressively against Medicare price negotiations. Merck and Bristol Myers Squibb, whose CEOs earned $23.2 million (No. 7 on the list) and $18.8 million (No. 10) respectively, are among those suing the government to block lower drug costs.
AstraZeneca and J&J have joined the legal battle, while the Pharmaceutical Research and Manufacturers of America – the industry’s lobbying arm – fights to preserve pricing power. Meanwhile, research shows top firms spend more on stock buybacks and dividends than on R&D, debunking claims that high prices fund innovation.
The trend isn’t new. During the pandemic, executives at Pfizer, Moderna and J&J cashed out $250 million in stocks within six months of Operation Warp Speed, as per watchdog group Accountable.US. Bourla’s net worth, estimated at $35.6 million, places him in the wealthiest one percent of Americans – a stark contrast to the millions rationing insulin or skipping doses due to cost.
As the pharmaceutical industry braces for more scrutiny, one question lingers. When will the pursuit of profit align with the promise of affordable healthcare? For now, the gap between boardroom bonuses and patients’ bills has never been wider.
Head over to BigPharmaNews.com for more similar stories. Watch AstraZeneca CEO Pascal Soirot agreeing with U.S. President Donald Trump’s order to lower drug prices in this Fox Business interview.
This video is from the NewsClips channel on Brighteon.com.
More related stories:
- Coronavirus pandemic creates 9 new Big Pharma billionaires.
- Pfizer CEO Albert Bourla now HIGHEST PAID pharma executive in the world.
- Heads of vaccine makers Moderna, BioNTech included in list of COVID-19 billionaires.
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