GSK PLC (LSE:GSK, NYSE:GSK) boss Emma Walmsley saw her overall pay rise 51% to around £13 million in 2023 after she received a hike in performance-related bonuses.
Some £11 million of the pay came from performance bonuses and awards after the pharma giant beat estimates in the fourth quarter of 2023 - the first full financial year since it spun off Haleon.
In 2022, Walmsley received £8.4 million and while the jump was greater than rival boss Pascal Soriot of AstraZeneca, he was still paid more, receiving £16.9 million.
Last month, the healthcare team at Citi turned positive on GSK for the first time in seven years.
Pushing the investment bank's analysts over the precipice to 'buy' was the outlook for belantamab mafodotin, (known as Blenrep for short), the drug giant's treatment for the blood disease myeloma.
"Our upgrade is based not only on Blenrep’s underappreciated revenue potential but also the cumulative impact of the multiple incremental positives ranging from Zantac liability outlook, RSV/ Shingrix, astute business development, and increasingly positive ViiV outlook post dolutegravir loss of exclusivity," Citi said in a note to clients.