Gilead CEO Daniel O’Day’s Compensation Hits a New High Amid Oncology and CAR-T Therapy Advancements

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Gilead CEO Daniel O'Day

In a year highlighted by significant advancements in oncology and continuous dedication to CAR-T therapy development, Gilead Sciences’ CEO Daniel O’Day has received his most substantial compensation package since joining the biopharmaceutical powerhouse. The total compensation for O’Day in 2023 amounted to $22.6 million, as revealed in a recent Securities and Exchange Commission (SEC) filing, showcasing a consistent upward trajectory in his annual earnings.

The detailed breakdown of O’Day’s 2023 compensation includes a base salary of $1.74 million, reflecting a 2.9% increase from the previous year. In addition, he received $11.86 million in stock awards and $3.75 million in option awards. Furthermore, O’Day was awarded a $4 million bonus and an additional $1.21 million categorized under “other compensation.”

Gilead attributes O’Day’s compensation to the overall performance of the company. In 2023, Gilead maintained its stronghold in the HIV sector, with Biktarvy continuing to be the most prescribed regimen in the United States. The company’s foray into oncology, particularly with Trodelvy, saw a remarkable 56% revenue increase to $1.1 billion compared to the previous year. The sales of cell therapies Yescarta and Tecartus also bolstered Gilead’s oncology revenue, contributing to a total of $3 billion in this segment, accounting for 11% of Gilead’s total revenue for 2023.

Gilead’s financial achievements in 2023 exceeded its initial projections, with total revenue reaching $26.9 billion, surpassing the forecasted range of $26 billion to $26.5 billion.

While O’Day’s compensation saw an increase, other members of Gilead’s executive team experienced slight reductions in their total compensation packages, despite a rise in base salaries. Chief Medical Officer Merdad Parsey received a total compensation of $8.38 million, down from $9.03 million in 2022. Chief Commercial Officer Johanna Mercier saw her compensation decrease to $8.58 million from $9.23 million the previous year. Similarly, Chief Financial Officer Andrew Dickinson’s total compensation slightly declined year-over-year to $8.1 million.

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