Novartis CEO Vas Narasimhan (L) and AbbVie CEO Rick Gonzalez

No­var­tis CEO takes pay cut as Ab­b­Vie's Rick Gon­za­lez nabs near­ly 10% raise

Two CEOs are look­ing at no­tice­ably dif­fer­ent com­pen­sa­tion pack­ages this year when com­pared to last year.

No­var­tis CEO Vas Narasimhan, who re­cent­ly took over as chair of the PhRMA board, last year brought home 8.4 mil­lion Swiss francs ($9 mil­lion), which was a 25% de­crease from a year pri­or, when he col­lect­ed 11.2 mil­lion Swiss francs ($12 mil­lion).

Ab­b­Vie CEO Rick Gon­za­lez, on the oth­er hand, who saw his com­pa­ny ex­it PhRMA and oth­er in­dus­try trade groups in 2022, capped his fi­nal year of the com­pa­ny’s mon­u­men­tal Hu­mi­ra mo­nop­oly, and earned a raise to $26.2 mil­lion in com­pen­sa­tion, up from $23.9 mil­lion in 2021 and $24 mil­lion in 2020.

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