Most jobs in high tech that push on the fronteirs of scientific knowledge that have a group leadership role need a PhD in charge of the team. Back when I worked in biotech, around 3/4 to 5/6ths of the team leaders had PhDs. I wouldn't expect this to have changed. For a commercially viable biotech company, salaries are pretty decent at that level.
That makes sense though. One would definitely want someone in a leadership position with a lot of experience and knowledge, especially at a biotech firm.
