The global realm of pharmaceutical and biotechnological companies is on a fierce competition of making ground-breaking stock revenues. Elite company’s top executive managements are trying to bag as many IPO as they can to raise their share price in the open market. The highly paid chief’s and CEO’s expertise are helping companies like Merck, Moderna, BeiGene to gain an edge over their other competitors.
A Cambridge, Massachusetts-based biotechnology company of Moderna made a record-breaking IPO back in December of 2018 which raised its public offering totals to $604 million. Moderna, Inc – a company focused on drug discovery and drug development signed a $58.6 million paycheck with its CEO Stéphane Bancel for 2018. This by far is ranked the highest pay of any CEO in the pharmaceutical and biotechnology business. The second highest on the list is Kare Schultz bagging $33 million packages from Teva Pharmaceuticals. The third on the list is John Oyler CEO of BeiGene who earned $27.89 million.
How did Stephane Bancel manage to amass a massive $58.6 million paycheck in a year?
Stephane Bancel’s total pay package of 2017 was worth $6.8 million. But the year 2018 changed the numbers in favor of Bancel and Moderna. This shocking rise resulted from the successful IPO back in December, where Moderna pulled in $604 million for the year 2018. Moderna sold 26.3 million of its shares at $23 each in its IPO and bumped a total of $604 million for the year 2018, raising the company’s net worth to mouth-watering $7.9 billion.
Another notable Chinese Hong-Kong pharmaceutical company BeiGene gathered a total of $903 million. Of which, $15 million was awarded to its CEO John Oyler, “in recognition of his extraordinary leadership and our achievements in 2017 and 2018 to date”.
This shows that it is not unusual for international pharmaceutical companies to make big numbers within a year. But in Moderna’s case, it became possible due to its CEO Stephane Bancel decision making who managed to grasp $4.59 million shares back in December. Stephanie Bancel has served as the Moderna’s CEO since the year 2011 and has made various partnerships with companies like AstraZeneca, Merck on certain conditions to expand his company’s biotechnological and drug-making operations.
For any individual working in a company, making big numbers like Kare Schultz, Stephane Bancel, and John Oyler is very intimidating and sounds impossible. But such numbers are easy to make from the position and power these individuals govern. In Stephane Bancel’s case, his massive paycheck of $59 million was an accumulation of his bonus awards of the past five years of efforts and his share of securing $4.59 million shares. Bancel’s original pay for the year 2018 was $863,000. The rest he accumulated through the stock trading and cash incentives.
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