Pfizer CEO Albert Bourla addresses a press convention after a go to to supervise the manufacturing of the Pfizer-BioNtech COVID-19 vaccine on the manufacturing facility of U.S. pharmaceutical firm Pfizer in Puurs, Belgium April 23, 2021.
John Thys | Pool | Reuters
Pfizer CEO Albert Bourla acquired $24.3 million in complete compensation for 2021, a 15% enhance over the prior yr as the corporate’s full-year revenue greater than doubled with the profitable rollout of its Covid vaccine.
Bourla took residence a money incentive of $8 million on prime of his wage of $1.69 million. He additionally acquired inventory and choices totaling $13.2 million in addition to $1.38 million in different compensation.
Bourla’s complete fairness holdings, almost 597,000 shares, are price greater than $32 million as of Thursday’s closing worth of $54.24. He is additionally entitled to a golden parachute valued at almost $113 million as of Dec. 31, if the corporate is offered and he loses his job consequently.
Bourla additionally acquired greater than $336,000 for residence safety and greater than $60,000 for air journey. His complete wage is 262 instances greater than the median compensation for a standard worker at Pfizer.
Pfizer booked a revenue of almost $22 billion in 2021, double the earlier yr as the corporate’s Covid vaccine grew to become probably the most broadly administered shot in opposition to within the U.S. and the European Union. Gross sales from Pfizer’s Covid vaccine totaled $36.7 billion in 2021, making up about 45% of its annual income of $81.2 billion. Pfizer is projecting one other $32 billion in vaccine gross sales this yr.
The shot was developed with BioNTech, its German associate, who created the expertise underlying the vaccine. Pfizer and BioNTech splits income from the vaccine equally.
Pfizer’s shot was the primary Covid vaccine to obtain emergency authorization from the Meals and Drug Administration in December, and likewise the primary to obtain full approval from the FDA. The eligibility age has been regularly lowered to everybody over 5-years-old.
Pfizer’s Covid remedy tablet, Paxlovid, can also be anticipated to develop into successful, with the corporate projecting no less than $22 billion in gross sales.
The vaccine maker’s windfall from the pictures are controversial with activist teams, that are calling for the businesses to share their mental property with growing nations to assist enhance vaccination protection. Oxfam America, in a proposal for Pfizer’s annual assembly, has referred to as for shareholders to again a feasibility examine on transferring the underlying vaccine expertise.
Pfizer’s board of administrators has referred to as on shareholders to vote in opposition to the proposal, saying transferring the expertise behind the pictures requires extremely expert native companions which have the know-how to fabricate them. The corporate has dedicated to suppling 2 billion vaccine doses to poorer nations by the tip of 2022.