Health care stocks underperformed the broader market in 2023, with many companies falling short of their profit targets, and some CEOs even missing out on bonuses. Yet, despite these setbacks, the chief executives of the industry’s top 300 companies still raked in a staggering $3.5 billion collectively last year, according to a new report by STAT News. Although average CEO pay dropped from $13 million in 2022 to $11 million in 2023, the highest earners still took home more than $100 million each.
Here’s how much money the the top five highest CEOs in healthcare made in 2023.
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David Ricks, the CEO of Eli Lilly $LLY (LLY), which is known for its diabetes medications and weight loss drugs like Zepbound, earned $67.6 million in 2023.
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Pablo Legorreta, the CEO of Royalty Pharma (RPRX), the largest buyer of pharmaceutical royalties, was compensated $84.8 million in 2023.
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Martine Rothblatt, the CEO of United Therapeutics (UTHR), a biotech public benefit corporation, was paid $85.4 million in 2023.
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Peter Gassner, CEO of Veeva Systems (VEEV), a cloud computing company specializing in the pharmaceutical and life sciences industries, took home a whopping $245.4 million last year.
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Despite having just one product on the market — and with declining demand, — Moderna $MRNA (MRNA) made its CEO, Stéphane Bancel, the highest-paid executive in the healthcare sector in 2023, with total compensation amounting to $300.7 million.
