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Insight & Intelligence™: Sep 22, 2014

Top 10 CEO Salaries: Biotech Tool Providers

Meet the lords of lab instruments.

Top 10 CEO Salaries: Biotech Tool Providers

Which tool titans are bringing in the most in compensation this time around? [© ALYUSHIN - Fotolia.com]

    Biopharma tools and technologies CEOs typically don’t make as much as their counterpart chief executives of drug developers. That trend continued in 2013. However, last year also saw some slight improvement for CEOs in how their compensation stacked up with 2012. Of the 10 highest-compensated CEOs , almost as many (four) saw their pay reduced from the previous year as increased (six), compared with five and five a year earlier.

    This year’s list is reduced from last year’s top 20, reflecting a narrowing of criteria for inclusion to CEOs of companies that derive at least a majority of their revenues from biopharma tools—and a consequent removal of companies where biopharma tool operations constituted a minority percentage of activity in 2013.

    While two of the five CEOs whose total compensation rose only saw increases of 0.1%, this year’s top two CEOs fared much better, with one enjoying a 17% hike, and the other more-than-doubling his pay from 2012—increases both companies said reflected strong performance. Tool companies continued to focus more of their spending on internal R&D than the drug developers, nearly all of which now rely on collaborations with other biotechs and pharmas.

    Also, the tools-and-tech segment continued to consolidate in 2013 through mergers and acquisitions, paced by Thermo Fisher Scientific’s acquisition of Life Technologies for approximately $13.6 billion plus the assumption of $1.5 billion in net debt—the largest M&A deal of 2013. That deal was announced as completed on February 3 of this year, eliminating from this year’s list a Top 10 tools CEO of past years, Life Tech’s chairman and CEO Gregory T. Lucier, who received $10,268,445 in 2012 compensation.

    Following is this year’s list, which ranks CEOs of public biotech tools and technologies companies by their total 2013 compensation as disclosed in company proxy statements. Each executive is listed by name, company, title, 2013 and 2012 total compensation, and the percentage change between the two years. 

    #10. Frank Laukien

    Company: Bruker

    Title: Chairman, President, and CEO

    2013 total compensation: $2,216,780

    2012 total compensation: $1,860,6021

    % Change: 19.1%

    #9. Patrick J. Balthrop, Sr.

    Company: Luminex

    Title: President and CEO

    2013 total compensation: $2,539,072

    2012 total compensation: $3,214,478

    % Change: -21.0%

    #8. Norman Schwartz

    Company: Bio-Rad Laboratories

    Title: President, CEO, and Chairman2

    2013 total compensation: $4,565,6112

    2012 total compensation: $4,520,7532

    % Change: 0.1%

    #7. Olivier A. Filliol

    Company: Mettler Toledo

    Title: President and CEO

    2013 total compensation: $5,223,324

    2012 total compensation: $4,384,508

    % Change: 19.1%

    #6. Robert F. Friel

    Company: PerkinElmer

    Title: Chairman and CEO

    2013 total compensation: $6,511,991

    2012 total compensation: $10,832,610

    % Change: -39.9%

    #5. Jay T. Flatley

    Company: Illumina

    Title: CEO and Director

    2013 total compensation: $7,296,274

    2012 total compensation: $8,171,080

    % Change: -10.7%

    #4. Vincent A. Forlenza

    Company: BD (Becton, Dickinson & Co.)

    Title: Chairman, CEO, and President

    Year ending September 30, 2013 compensation: $9,183,0333

    Year ending September 30, 2012 compensation: $9,418,2763

    % Change: -2.5%

    #3. William P. Sullivan

    Company: Agilent Technologies

    Title: President and CEO

    2013 total compensation: $10,235,672

    2012 total compensation: $10,135,717

    % Change: 0.1%

    #2. Rakesh Sachdev

    Company: Sigma-Aldrich

    Title: President and CEO

    2013 total compensation: $10,516,8054

    2012 total compensation: $4,529,322

    % Change: 132.2%

    #1. Marc N. Casper

    Company: Thermo Fisher Scientific

    Title: President and CEO

    2013 total compensation: $16,168,880

    2012 total compensation: $13,822,325

    % Change: 17.0%

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