Pfizer CEO Albert Bourla speaks during a press conference after a visit to oversee the production of the Pfizer-BioNtech COVID-19 vaccine at the US pharmaceutical company Pfizer’s plant in Puurs, Belgium on April 23. year 2021.
John Thys | Swimming Pool | Reuters
Pfizer CEO Albert Bourla received total compensation of $24.3 million for 2021, up 15% year-over-year as the company’s full-year profit more than doubled with the successful rollout Covid vaccine.
Bourla received an $8 million cash incentive on top of his $1.69 million salary. He also received stock and options for a total of $13.2 million as well as $1.38 million in other compensation.
Bourla’s total holdings, nearly 597,000 shares, are worth more than $32 million as of Thursday’s closing price of $54.24. He is also entitled to a golden parachute worth nearly $113 million by December 31, should the company be sold and he loses his job as a result.
Bourla also received more than $336,000 for home security and more than $60,000 for air travel. His total salary is 262 times higher than the average salary for the average employee at Pfizer.
Pfizer recorded a profit of nearly $22 billion in 2021, double the year before the company’s Covid vaccine became the most widely used vaccine in the US and European Union. Pfizer’s Covid vaccine sales total $36.7 billion in 2021, about 45 percent of the company’s $81.2 billion in annual sales. Pfizer expects an additional $32 billion in vaccine sales this year.
Scenes developed with BioNTech, the German partner who created the basic technology for the vaccine. Pfizer and BioNTech split the profits from vaccines equally.
Pfizer was the first Covid vaccine to receive emergency approval from the Food and Drug Administration in December, and also the first to receive full FDA approval. The age of eligibility to participate has been gradually lowered for everyone over the age of 5.
Pfizer’s Covid drug, Paxlovid, is also expected to be a hit, with the company projecting at least $22 billion in sales.
The vaccine maker’s profits from the shots are controversial with activist groups, which are calling on companies to share their intellectual property with developing nations to help raise rates. vaccination rate. Oxfam America, in a proposal to Pfizer’s annual meeting, called on shareholders to support a feasibility study on the transfer of basic vaccine technology.
Pfizer’s board of directors urged shareholders to vote against the proposal, saying that transferring the technology behind the scenes required skilled local partners with the know-how to produce them. The company has committed to delivering 2 billion doses of the vaccine to poorer countries by the end of 2022.