A Pfizer sign hangs on the outside of their headquarters in New York City.
A Pfizer sign hangs on the outside of their headquarters in New York City.

Albert Bourla is the chief executive officer of Pfizer, one of the pharmaceutical companies in the United States that developed a coronavirus vaccine. The 59-year-old Greek official saw a significant boost to his salary amid the coronavirus pandemic in 2020.

Pfizer Inc. compensated Bourla with a total of $21 million in 2020 for his position and role in the company’s successful application of the first authorized COVID-19 vaccine in the U.S. Security filings revealed Friday that the CEO’s pay included salary, a bonus, stock and other incentive pay, and it was a 17% increase from the previous year’s $17.9 million, as per Bloomberg.

An analysis by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO) revealed the breakdown of Bourla’s $21 million compensation. The CEO’s base salary was $1,650,000 while the values of his Stock and Option Awards were at $4,897,817 and $6,782,951 respectively.

He also earned $5,491,800 from non-equity incentive plan compensation and a change in pension value and deferred compensation earnings worth $1,367,780. The rest of his compensations totaled $843,222, according to the organization’s website.

Pfizer Inc. currently has a market value of $215.2 billion as of 2021, with annual sales worth $47.6 billion and profit of $9.6 billion. The pharmaceutical company also has $154.2 billion worth of assets, as per Forbes’ list of 2021 Global 2000 world’s largest companies. The company’s share is currently worth $42.10 as of July 27, 2021 at 4:00 p.m. EST, based on the outlet’s data.

Bourla has become one of the most prominent faces of the pharmaceutical company, which is currently at the center of the fight against the coronavirus. Pfizer’s vaccine, which was developed with the help of its German partner BioNTech SE, is reportedly 95% effective in protecting a person from the coronavirus disease.

Amid the threat of the global health crisis, Bourla is pushing for innovation from his company to combat cancer and other diseases using innovative treatments. Just last year, Pfizer combined its UpJohn business, another pharmaceutical manufacturing firm, with Mylan NV, a generic-drug maker, to create Viatris Inc., a global healthcare company.

Pfizer CEO Albert Bourla says a new version of the group's coronavirus vaccine is in the pipeline and will be effective against new virus variants

Pfizer CEO Albert Bourla says a new version of the group's coronavirus vaccine is in the pipeline and will be effective against new virus variants Photo: POOL / JOHN THYS