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Many chief executive officers of both profitable and not-yet-profitable biotechnology companies have multimillion-dollar pay packages, according to three recent surveys. The average total annual salary and bonus paid to biotech CEOs in 2003 was $567,000, up from $538,000 in 2002, according to a survey conducted by
Genentech's Arthur Levinson topped the list for biotech execs, with total compensation of $23 million. In 2003, he received a salary of $860,000, a bonus of $1.2 million, and stock options worth $21 million. Genzyme's Henri Termeer was a close second. On salary alone, Termeer got top ranking, with a base pay of $1.2 million. However, Termeer also received a bonus of $1.6 million and options worth $16.2 million, bringing his total package to $19.1 million.
The BioWorld survey also suggests that top research and development (R&D) ...
