Allergan CEO Pyott Received Pay Raise to $11.9 Million

(MoneyWatch)  Allergan CEO David Pyott received a 6 percent raise in total compensation last year, bringing his pay packet to $11.9 million. The top five executives of Allergan all got pay raises. Their total combined compensation rose 10 percent to $24 million.

Over the year, Allergan fared well. Revenues rose to $4.4 billion from $3.9 billion. Net income rose to $579 million from $501 million.

Business has started to dip more recently; 2008 Q4 sales were flat at just over $1 billion from the year before. Allergan is not likely to have a better year going forward -- its portfolio of vanity products are the type of discretionary items that consumers cut back on in recessions.

Here's a summary of Allergan's executive compensation:

• Name, 2008 pay, 2007 pay
• CEO David Pyott, $11.9 million, $11.2 million
• CFO Jeffrey Edwards, $2.5 million, $2.1 million
• President F. Michael Ball, $3.7 million, $3.5 million
• General Counsel Douglas Ingram, $2.7 million, $2.5 million
• EVP/R&D Scott Whitcup, $2.8 million, $2.4 million
• Source: SEC, numbers are rounded.

The numbers include non-cash compensation such as stocks and options whose value changes over time.

Next year, Pyott (pictured) will take a cut in his base pay. The company told the SEC that his salary will decline to $1.3 million from $1.35 million.

• See previous BNET stories on pharma executive compensation:
• Abbott CEO White Takes a Pay Cut
• Gilead Executive Pay: Modest Raises for Outstanding Performance
• Gilead Deal Gives CV Therapeutics CEO $8.4 Million Payday Despite Lack of Profits
• Pfizer's Kindler Got $4.2 Million Pay Raise, Despite What Business Press Says
• Pfizer Execs' Golden Parachute Is Actually a Pay Cut
• Gilead Deal Gives CV Therapeutics CEO $8.4 Million Payday Despite Lack of Profits
• Genentech's Levinson May Have No Change-of-Control Agreement in Roche Deal
• Amgen CEO Sharer: Options? No Thanks. I'll Just Take the Cash.
• Schering CEO Hassan Has $59 Million Buyout Agreement in Merck Merger
• Merck Executive Pay: $36 million, Use of Private Jet, Cash Bonuses Despite Failures
• Eli Lilly Execs Receive $48 Million in Pay; Plus Chairman Taurel Adds $40 Million Nest Egg
• Novo Nordisk Executive Compensation: A Picture of Modesty (Except for the Car Expenses)
• How Pharma's CEO Pay Packages Measure Up