Johnson & Johnson’s Joaquin Duato and AbbVie’s Robert Michael both received significant pay increases in 2025, with compensation packages surpassing $30 million, according to proxy statements released by the companies on Mar. 12.
The high compensation highlights the financial rewards for top executives in the pharmaceutical industry, especially during periods of strong company performance and leadership transitions.
AbbVie paid Michael $32.5 million in 2025, marking a 75% increase from his $18.5 million salary in 2024. This was Michael’s second year as CEO after being appointed in February 2024 following Richard Gonzalez’s departure. Gonzalez, who had led AbbVie since its formation in 2013, retired from the board on July 1, 2025, passing the chairman role to Michael. Most of Michael's compensation came from stock and option awards totaling $16.5 million, along with a $5.2 million incentive bonus and a base salary of $1.7 million.
AbbVie's decision to reward Michael comes as the company managed challenges such as the loss of exclusivity for its immunology drug Humira due to biosimilar competition starting in 2024. The company shifted focus to Skyrizi, which saw sales rise by nearly half to $17.56 billion in 2025, making it one of the industry's top-selling drugs. Rinvoq also contributed significantly with $8.3 billion in sales last year.
At Johnson & Johnson, Duato has been at the helm since November 2022 and saw his total compensation rise to $32.76 million in 2025—up from $24.6 million the previous year—mainly through stock and option awards worth $20.9 million plus incentives and base pay.
Johnson & Johnson reported total sales of $94.19 billion for 2025—a year-on-year growth of six percent—maintaining its position as the highest-earning pharmaceutical company globally. The cancer drug Darzalex played a key role by generating $14.3 billion last year.
