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The Covid Pandemic-Chief Executive Officers Of 300 Companies Earned Over $4.5 Billion Last Year

CEOs of 300 health care companies took home over $4.5 billion last year - with Regeneron's top earner raking in a HALF-BILLION

Analysis of earnings among top 300 CEOs revealed the highest earnersTop of the list was Regeneron's Leonard Schleifer, with the company having provided an expensive Covid antibody cocktail during the pandemic.

Regeneron's Leonard Schleifer.

Leonard Schleifer, the head of Regeneron, earned a total of $453million last year — equivalent to ten percent of the total earnings of the top 300 CEOs

Many healthcare companies saw their earnings boosted by the Covid pandemic.

But others also saw sales of other products rise, which became more appealing after lockdowns were brought into force.

America's top healthcare CEOs took home more than $4.5 billion last year, figures show — or seven times the CDC's budget for surveying infectious diseases.

Analysis of earnings for 300 top CEOs by STAT News revealed the extortionate figure accumulated from salaries, bonuses, perks, and royalties from stocks.

But a whopping tenth of this — or $453 million — was paid to just one CEO, Leonard Schleifer, who is in charge of Regeneron which shot to fame after its monoclonal antibody treatment became one of the first used to treat Covid in 2020.

                        Leonard Schleifer

Many healthcare companies saw their earnings buoyed by sales to help fight Covid, signing lucrative deals with public agencies to carry out Covid tests or distribute medicines.

But others also saw sales jump as lockdowns led to a change in behavior, with more buying invisible braces for example because of problems accessing a dentist.

Critics slammed today's mammoth figure as showing 'misplaced priorities' and revealing companies were doing things that 'don't really seem to be in the public interest'.

STAT News used the Associated Press' Harvester tool to estimate the earnings of CEOs in healthcare companies earning more than $1 billion.

Results were compared to the $648,000 the CDC received in 2021 for surveillance and research into emerging and zoonotic infectious diseases.

The top earner, Schleifer is not one to shy away from splashing his wealth either.

He owns mansions in both Martha's Vineyard and Chappaqua, New York.

Furthermore, he also used to play golf with the former president Donald Trump at the latter's club in Westchester, New York, and even funded his son Adam's failed bid for congress.

Regeneron's main success in the pandemic was its antibody cocktail — sold under the brand name REGEN-COV — which could help fight off infections in the early stages in vulnerable people.

More than three million doses were sold to the U.S. Government alone at $2,100 each to help fight the virus. Other countries struggled to get any doses.

But the product quickly fell out of favor  amid the arrival of the Omicron variant, which made the treatment less effective.

Source, Read More; Daily Mail

Comments

  1. Anonymous18 July 2022 at 16:57

    This world, true, true, no balance. Some people were hungry during the pandemic, while a few others were cashing out.
    Chai!

    ReplyDelete

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