The drug industry’s income gap got wider
Last year, at the median, biopharma employees got a 6% raise over 2017. But their bosses in the C-suite saw total compensation increase by nearly 40%.
That’s according to a new analysis from BioPharma Dive, which dug through the annual filings of about 200 companies in the drug industry.
Interestingly, the increase in CEO pay had little correlation with company performance. Across the board, biopharmas lost about 8% of their share value, according to BioPharma Dive, and CEO pay grew more at the companies that declined than the ones that increased.