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Executive VP at AbbVie Tops GEN List as Highest Paid Woman in Biopharma
New Rochelle, NY, August 14, 2013—Laura J. Schumacher, an executive vp at AbbVie (NYSE:ABBV), topped “The GEN List of the 20 Top Paid Women Executives in Biopharma.” Schumacher, who oversees business development and external affairs at the company and serves as general counsel, had a total compensation package of $10,192,748 in 2012. Coming in second was Beatrice Cazala, executive vp of commercial operations at Bristol-Myers Squibb (NYSE:BMY), with a total 2012 compensation of $8,031,025, according to GEN.
“Our listing clearly shows that women have breached the pharma industry’s glass ceiling,” says John Sterling, editor in chief of GEN. “But they still have a way to go before they catch up with many of their male colleagues. Our recent listing of the total compensation that the top 15 biopharma CEOs were receiving, all males, highlighted this issue. For example, numbers one and two on that list were Leonard Schleifer of Regeneron (NASDAQ:REGN) with $30,047,097 in 2012 and William Weldon, formerly of Johnson & Johnson (NYSE:J&J), with a tally of $29,838,259."
The number 3, 4, and 5 positions on the GEN executive women in biopharma listing were filled by Heather Bresch, CEO of Mylan (NASDAQ:MYL), $8,000,628; Martine Rothblatt, CEO of United Therapeutics (NASDAQ:UTHR), $7,958,328; and Sandra Leung, general counsel and corporate secretary at Bristol-Myers Squibb, $5,892,772.
As with the previously mentioned CEO compensation rankings, this list shows the continuing leveling of the industry between traditional “big” pharma and biotech. Six of the top 10 women executives on this list work at pharmas; the rest, at biotechs. However, positions 11–20 on the list were filled entirely by biotech executives.
In addition, of the 20 women on this list, 10 held positions at the executive or senior vice presidential level, and seven of those had responsibilities that included that of general counsel. One woman was a chief medical officer, and another a chief commercial officer.
To see the entire GEN List of the 20 Top Paid Women Executives in Biopharma, please go here.