Skip to main content

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

Post a Comment

Type your comments here

Popular posts from this blog

Police Service Commission Suspends Officers Indicted In Abba Kyari's Drug Deal

Police Service Commission (PSC) has suspended officers indicted by the National Drug Law Enforcement Agency (NDLEA) along with suspended DCP Abba Kyari. They are Assistant Commissioner of Police, Sunday Ubua, and Assistant Superintendent of Police, James Bawa, attached to the Intelligence Response Team (IRT) of the Force Investigation and Intelligence Bureau (FIIB). The suspension, in accordance with the provisions of the Public Service Rules 030406, will remain effective until the outcome of the investigation "DCP Abba Kyari, who prior to this allegation was on suspension, shall remain so until the conclusion of investigations”, it read. “The IGP is further requested to inform the Commission of the arrest of ASP John Umoru, currently at large, whenever his arrest is effected.” The letter to the IGP with reference number CB: 4099/FHQ/ABJ/Vol16/151, copied NDLEA Chairman, retired Brigadier General Buba Marwa. The statements Kyari made to undercover operatives of the agency was reve...
Post a Comment
Read more

Britain-ASDA Slashes Prices On Rice, Pasta And Baked Beans

Asda slashes prices on pasta, rice and baked beans to help ‘millions’ of Britain’s poorest families. Following a successful campaign by anti-poverty blogger and budget chef Jack Monroe, Asda has slashed the prices of hundreds of kitchen staples, helping "millions" of Brits. Last month Monroe, a former food bank user, urged supermarkets to make their cheapest food ranges more widely available after highlighting the inflation in key products such as rice and the removal of value ranges from the shelves in her local Asda in Essex. Her Twitter thread warning that official inflation figures "grossly underestimated" the impact of the current cost of living crisis on Britain's poorest families went viral and generated a media storm. In response, on Monday (February 7) Asda committed to stocking its full Smart Price and Farm Stores ranges in all of its stores and online. On Saturday (February 12), three and a half weeks after her viral Tweets, the campaigner, who has be...
Post a Comment
Read more

Kobe Bryant Crash Photos Lawsuit, Vanessa Bryant Wins - Awarded $16m By Jury

  Kobe Bryant's widow has been awarded $16m (£13.6m) in damages over leaked graphic photos of the helicopter crash that killed the US basketball star and his daughter in 2020. Vanessa Bryant, 40, said she had panic attacks after learning images taken by Los Angeles County sheriff's deputies and firefighters had been shared. A federal jury now said the county must pay Mrs Bryant for emotional distress. Co-plaintiff Christopher Chester will be paid $15m. In the Vanessa Bryant‘s lawsuit against Los Angeles County, the jury ordered Los Angeles County to pay $31 million to the widow of Kobe Bryant and co-plaintiff Christopher Chester. The jury deliberated for less than four hours before coming to their decision, and according to multiple reports. The sum of $16 million was awarded to Vanessa and $15 million to Christopher — who lost his wife, Sarah, and 13-year-old daughter, Payton, in the same helicopter crash that killed Kobe and 13-year-old Gianna Bryant on Jan. 26, 2020. Vanessa...
3 comments
Read more