Amgen CEO Robert Bradway's Compensation Hits New High Amid Industry Pay Trends

In a year marked by significant developments in the pharmaceutical industry, Amgen's longtime CEO Robert Bradway has seen his total compensation reach a new pinnacle. This increase reflects broader trends in executive pay across the sector, as companies navigate challenges and opportunities in the evolving healthcare landscape.

Bradway's Compensation Package Reaches $24.4 Million

Robert Bradway, who has helmed Amgen for 13 years, received a total compensation package of $24.4 million in 2024, marking an 8% increase from the previous year and his highest pay to date. The package breakdown includes a base salary of $1.87 million, equity awards totaling $18 million, and a bonus of $3.84 million.

Amgen's board cited Bradway's "successful execution of the company's strategic priorities" as justification for the pay increase, specifically mentioning the Horizon acquisition and other initiatives aimed at fostering long-term growth. Under Bradway's leadership, Amgen has seen its revenue more than double, from $15.6 billion before his tenure to $33.4 billion in 2024.

Comparative Analysis of Pharma CEO Compensation

Bradway's compensation places him among the highest-paid executives in the pharmaceutical industry. His package is comparable to those of other industry leaders:

• Pfizer's Albert Bourla: $24.6 million
• Johnson & Johnson's Joaquin Duato: $24.3 million
• Gilead Sciences' Daniel O'Day: $23.7 million
• Merck's Robert Davis: $23.2 million

Notably, Eli Lilly's CEO David Ricks topped the list of disclosed compensations at $29.2 million, buoyed by the company's success in the diabetes and obesity drug markets.

Executive Pay Trends and New Appointments

The pharmaceutical industry continues to offer substantial compensation packages to attract and retain top talent. Amgen's new R&D chief, Jay Bradner, who joined from Novartis, received a total compensation of $14.9 million in his first year. This package included $10.8 million in equity awards and an additional $5 million in restricted stock units and cash awards to offset equity forfeited from his previous position.

Other Amgen executives also saw modest increases in their compensation:

• Commercial chief Murdo Gordon: $8.5 million
• Chief Technology Officer David Reese: $8.1 million
• Chief Financial Officer Peter Griffith: $7.8 million

These figures underscore the competitive nature of executive compensation in the pharmaceutical sector, as companies strive to maintain leadership stability and drive innovation in a rapidly evolving industry.