Monday, February 23, 2015

The pharmaceutical sector wages subscribed to XXL – The World

The pharmaceutical sector wages subscribed to XXL – The World

Le Monde | • Updated | By

This is not a first, but as always, the pill does not. The bonus of several million euros pledged by Sanofi his future boss, Olivier Brandicourt, raises since the weekend controversy. Stéphane Le Foll, spokesman of the government, such an award is “incomprehensible” , the opposite of the culture of the “merit” and ” risk “ valued by multinationals. The Minister for Ecology, Segolene Royal, described the allowance “not normal at all” , and encourages Olivier Brandicourt to give it up. “It would be a minimum,” she said, calling for “a little decency, especially from pharmaceutical companies who depend on Social Security” .

However, the granting of a ‘golden hello’ is commonplace in the United States. And compensation of future boss is not exceptional in the pharmaceutical sector. In this small world at the crossroads of science and finance, recruitments are “self-segregation” and talents to pay dearly.

Olivier Brandicourt receive an annual salary of 1.2 million and a bonus of between 3 and 4.2 million euros (between 150 and 250% of the fixed salary). It will affect further 45,000 shares – more than 4 million euros at the current price of 88 euros – and 220,000 stock options. His total compensation should be about that of his predecessor, Chris Viehbacher, who had pocketed 8.6 million euros in 2013.

This year, the British company GlaxoSmithKline (valued on the stock market about 100 billion against 115 billion euros to Sanofi) paid the same amount to its CEO, Andrew Witty. Swiss pharmaceutical giants are in tune: in 2013, Novartis, whose value is around 250 billion euros, to Joseph Jimenez signed a check for € 10.7 million, and his compatriot Roche, who weighs nearly 210 billion euros, $ 7.1 million to Severin Schwan. An example of measurement of these multimillionaires Pascal Soriot, the French boss of AstraZeneca. Well known for having saved the British flagship clutches of the US Pfizer, he has seen “only” 3.9 million euros in 2013.

From the pocket money in light of American standards. Across the Atlantic, the highest paid is undoubtedly Leonard Schleifer, founder of the biotech Regeneron: with $ 36.2 million affected in 2013, mainly due to the exercise of his stock options

. These “shopping options” whose price is set and which relate to the actions of the company in advance are veritable cash machines when the market capitalization of the company progresses. In the case of Regeneron, it increased from 2 to more than $ 27 billion between early 2010 and late 2013 (and nearly 45 billion today). This price surge has also boosted the remuneration of other biotech bosses as Gilead, Amgen, Celgene or Biogen, whose leaders were rewarded with salaries between 13 and 21 million.

Of conventional laboratories, such as Johnson & amp; Johnson, Pfizer, Merck or AbbVie, there is not a check under 13 million, the record being held by Lamberto Andreotti of Bristol-Myers Squibb, with more than $ 20 million.


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