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.