Rank

Name

Company

Base Salary ($000)

Base Salary (%)

Percent Change Prior Year ($000)

Stock Price 12/31/97 ($)

Stock Price 12/31/98 ($)

Shares Outstanding ($MM)(1)

Market Cap 12/31/97 ($MM)

Market Cap 12/31/98 ($MM)

1

Gordon M. Binder

Amgen Inc.

799

724

10.4

54.13

104.56

255.0

13,800

26,659

2

Henri A. Termeer

Genzyme Corp.

689

604

14.1

27.75

49.75

78.2

2,171

3,893

3

Arthur D. Levinson

Genentech Inc.

650

525

23.8

60.63

79.69

124.9

7,573

9,954

4

Ernest Mario

Alza Corp.

600

596

0.7

31.81

52.25

86.0

2,737

4,496

5

James R. Tobin (2)

Biogen Inc.

574

NA

NA

36.38

83.00

73.7

2,681

6,116

6

David E. Robinson

Ligand Pharmaceuticals Inc.

512

486

5.3

12.88

11.63

38.6

497

449

7

John L. Castello

Xoma Corp.

500

500

0.0

5.56

3.19

40.9

228

130

8

Edward V. Fritzky

Immunex Corp.

468

450

4.0

54.00

125.81

39.7

2,146

4,999

9

Dennis B. Gillings

Quintiles Transnational Corp.

447

442

1.1

38.25

53.38

75.0

2,869

4,004

10

David J. Gury

Nabi

440

399

10.3

3.41

2.69

34.9

119

94

NOTES:

* Unless otherwise noted, all compensation data reported are for the fiscal year ending Dec. 31, 1997. This ranking was compiled from a database containing detailed executive compensation data drawn from the proxy statements of 223 public biotechnology companies. Eight of the 223 CEOs did not receive a full year of salary, thus the ranking was done on the remaining 215 CEOs.

NA = Not applicable

1.) The shares outstanding reported here are taken directly from the proxy statements as of the "record date," which varies from proxy to proxy. Since companies that have a fiscal year end of Dec. 31 generally print their proxies between March and June, these figures reflect shares of common stock outstanding in the first half of 1998. These figures do not account for public equity offerings or private offerings or other events completed since the most recent proxy statement.

2.) James R. Tobin resigned his posts as CEO and president of Biogen Inc. on Dec. 23, 1998. James L. Vincent, chairman of the board, was elected to fill Tobin's positions as well. Tobin had been CEO of Biogen since February 1997 and president since February 1994, and had served as chief operating officer from February 1994 to February 1997. Vincent , who had been Biogen's CEO from 1985 to February 1997, then went on to assume the title of chairman. Vincent was paid a base salary of $975,000 in 1997 in his capacity as chairman.