Boardroom pay rose rapidly at pharmaceutical group Galen last year as the company saw its share price move upwards sharply.

Executive directors at the Northern Ireland company saw their remuneration jump almost 70 per cent before pension contributions in the year to the end of September 2003 even though there was one less serving director, according to a filing yesterday with the US Securities and Exchange Commission (SEC).

On a like-for-like basis, their packages increased in value by 78.2 per cent.

The three executive directors - chairman Dr John King, chief executive Mr Roger Boissonneault and finance director Mr Geoffrey Elliott - were awarded 100 per cent bonuses on top of their salaries.

Mr Boissonneault was paid a basic salary of $726,000 (€576,600) - before the bonus - in the 12 months, while Mr Elliott received $481,000, again before the 100 per cent bonus. Dr King, who acts as executive chairman, received a basic salary of $192,000, according to the SEC filing.

In addition to their remuneration, Dr King and Mr Elliott received pension contributions of $80,000 and Mr Boissonneault a payment of $11,000.

Fees for the group's three non-executive directors more than doubled to $77,000 from $37,000 a year earlier.

The three executives were granted options over 523,200 shares at a price of £4.52½ in the case of the British executives and $28.89 in the case of Mr Boissonneault. The shares currently trade around $51 and £7.20.