With another year of double-digit revenue growth in the books, Amgen’s longtime helmsman Robert Bradway continues to sit firmly in the upper echelons of biopharma CEO pay, though not quite at the level seen by some of his peers in 2025.
For his work in 2025, Bradway has received a slight overall pay bump to nearly $24.7 million, according to Amgen’s proxy filing issued (PDF) this week.
The CEO, who will be marking his 14th year at the helm of Amgen in May, received a more substantial increase in 2024, when his overall compensation jumped 8% to $24.4 million.
Bradway’s total compensation for 2025 puts Amgen’s CEO pay ratio at 160 to 1 when pitting his pay against that of a “median staff member,” according to the filing.
Splitting the various components apart, Bradway’s salary for last year came in at roughly $1.93 million, slightly above his base pay from the previous year.
The majority of the CEO’s 2025 payout was tied to stock and option awards: Bradway’s long-term incentive (LTI) equity awards came to $18 million for the year, the same value as 2024’s LTI award.
The company followed up the LTI award in recognition of the CEO’s execution of the company’s goals, as well as Bradway’s more than a decade-long tenure at the firm, according to the proxy.
In further rationalizing its chief exec’s payout, Amgen’s compensation committee noted that the company in 2025 met or exceeded targets across revenue gains, net income, early pipeline advancement, clinical trial and regulatory strategy, as well as meeting workforce transformation and technology onboarding goals.
Bradway was awarded a further $3.9 million through Amgen’s cash incentive pay framework, plus a little over $860,000 in the company’s “other compensation” category.
Amgen in February reported a 10% revenue increase to $36.8 billion for all of last year, which the company credited in part to the record sales logged by a staggering 18 products.
The company charted gains across its various therapeutic areas, pointing to strong sales growth for cholesterol med Repatha, eye therapy Tepezza and anti-inflammatory biologic Tezspire, among others. Conversely, some of its top biologics are facing biosimilar competition that’s expected to continue to erode sales in 2026.
Meanwhile, Amgen made multiple strategic moves late last year to better position itself heading into 2026, including inking a December drug-pricing deal with the White House, which has earned the drugmaker tariff immunity over a set window in exchange for price reductions and DTC sales pledges on certain products.
Separately, the company won a key FDA green light in generalized myasthenia gravis with its drug Uplizna (inebilizumab) that same month, teeing up competition with Argenx and J&J in the increasingly crowded treatment field this year.
Bradway’s pay puts him in relatively good standing compared with his biopharma counterparts, though his 2025 award doesn’t quite match up to those for some U.S. pharma CEOs.
So far, Eli Lilly’s CEO David Ricks has, rather unsurprisingly, earned the heftiest pay package for 2025, with his compensation rising to a whopping $36.7 million.
Other U.S. pharma chiefs in the $30 million-plus pay club include Johnson & Johnson’s Joaquin Duato, who saw his 2025 compensation climb to $32.8 million, plus AbbVie’s Robert Michael, who collected some $32.5 million in his second year on the job.
Bradway’s 2025 pay also came in below that of Gilead chief Daniel O’Day ($28.4 million) and Pfizer helmsman Albert Bourla ($27.6 million), but ahead of leaders at Moderna, GSK, and AstraZeneca.