Big Pharma, Big Salaries

By Farah & Farah on July 21, 2010 - Comments off

We know the pharmaceutical industry is profitable. Very profitable.

FiercePharma takes a look at the biggest CEO salaries in Big Pharma. Following a mega-merger in 2009, Fred Hassan’s salary was bumped into first place. Formerly of Schering-Plough, Hassan made close to $50 million last year as the highest paid pharmaceutical CEO.

Novartis’ Daniel Vasella moved to the number four spot, up three places. But we won’t see him next year. Vasella stepped down as CEO of Novartis in January.

Why should we care? A good deal of wealth is built on the backs of company employees who lost their jobs during mergers. Research, development, and high salaries all keep the prices of essential drugs artificially high and out of reach of the average American, especially someone without insurance. Ultimately, we all pay in increased hospitalizations for those who go without medications. The high cost of medication and health care is one factor that is also driving home foreclosures.

Americans spent about $251.8 billion on prescription drugs in 2005, accounting for nearly 42% of global pharmaceutical sales. In the last decade the wholesale price of more than 150 popular brand name drugs rose an average of 35%. This is an escalation that is unsustainable.

Related Articles:



Leave a Reply:

You must be logged in to post a comment.


Our personal promise: Accident victims have specific rights, but by law you have a limited time to take action. When you use our team at Farah & Farah, there are NO up-front charges.
[click to expand]

Our fee is a percentage of the money awarded payable only when your case is successfully concluded. No matter how many times you call and how long we talk, there is NO CHARGE or cost until your case settles. Do not sign any releases, agreements or give any statements until you have spoken with us about your legal rights. When it comes to getting you more, we won't settle for less!

We personally promise that you will be treated with the respect and dignity you deserve. We promise to keep you up to date and informed as to developments in your case. Your case is important to us, regardless of size.
[click to minimize]

Main office: 10 West Adams St. Jacksonville, Florida 32202 • Phone: (800) 533-3555 Local: (904) 396-5555

The personal injury attorneys of Farah and Farah have experience with medical malpractice, product liability, workers' compensation, and other types of injury and negligence lawsuits. Eddie Farah and our team of attorneys are proud to represent working people and families throughout Florida.

Jacksonville, Florida Personal Injury Lawyer Disclaimer: The injury, car accident, auto accident, medical malpractice, or other personal injury legal information presented at this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship. Any results set forth herein are based upon the facts of that particular case and do not represent a promise or guarantee. Please contact a lawyer for a consultation on your particular legal matter. This web site is not intended to solicit clients for matters outside of the state of Florida.

© 2014 Farah and Farah - All rights reserved. Serving communities throughout Florida.

Privacy Statement | Website, SEO and Legal Internet Marketing by: SLS Consulting | Disclaimer