Eli Lilly CEO David Ricks (Evan Vucci/AP Images)

Eli Lil­ly's David Ricks snared $24M pay pack­age in a year tur­bo-boost­ed by Covid-19 an­ti­body

Boost­ed by boom­ing sales of its Covid-19 an­ti­body bam­lanivimab, Eli Lil­ly post­ed dou­ble-dig­it growth in 2020 de­spite a more steady show­ing from its lega­cy port­fo­lio. In his fourth year at the helm, CEO David Ricks will tout 2020 as a win — par­tic­u­lar­ly for his pock­et­book.

Ricks se­cured $23.7 mil­lion in pay in 2020, a rough­ly 11% bump from the pre­vi­ous year, the In­di­anapo­lis drug­mak­er dis­closed in a proxy fil­ing with the SEC.

Most of that bump was tied to in­creas­es in Ricks’ pen­sion val­ue as well as his stock awards. The four-year helms­man snared $13.6 mil­lion in stock, or about $1.3 mil­lion more than 2019. Ricks’ base salary saw a small in­crease to $1.48 mil­lion — a lit­tle more than the $1.4 mil­lion flat he bagged in 2019.

In a year light on trav­el, Ricks al­so racked up about $40,000 in cor­po­rate air ex­pens­es, Lil­ly said, which in­cludes pay­ing the crew, fu­el­ing and “on-board cater­ing,” among oth­er fees.

It was a big year for Ricks as Lil­ly over­saw the de­vel­op­ment and com­mer­cial­iza­tion of LY-CoV5555 (bam­lanivimab), a Covid-19 an­ti­body that is one of few mol­e­cules ap­proved for emer­gency use in the US. On the year, bam­lanivimab snared $871 mil­lion in sales — near­ly a block­buster de­spite what has been less-than-stel­lar up­take for an­ti­bod­ies across the board.

With bam­lanivimab in the fold, Lil­ly saw a 10% in­crease in sales in 2020 to $24.54 mil­lion. But out­side of its an­ti­body, the pic­ture at Lil­ly is a lit­tle less clear. Bam­lanivimab not in­clud­ed, Lil­ly’s sales jumped just 6% on the year — well with­in range for Big Phar­ma but not quite the dou­ble-dig­it growth that catch­es eye­balls.

Anat Ashke­nazi

Ricks is al­so like­ly sting­ing from the ouster of his CFO Josh Smi­ley, who was kicked out of the com­pa­ny this month — and stripped of around $24 mil­lion in pay — for an “in­ap­pro­pri­ate mes­sages” scan­dal with oth­er em­ploy­ees. Lil­ly said Smi­ley will be “avail­able” to Ricks and new CFO Anat Ashke­nazi through Ju­ly of this year on re­duced bi­week­ly pay of $9,000. Lil­ly will still hold on to its 24-month non-so­lic­i­ta­tion agree­ment in Smi­ley’s con­tract as well as an 18-month non-com­pe­ti­tion pact.

Smi­ley was Ricks’ hand­picked ap­pointee for CFO back in 2017 as the then-new CEO looked to re­work Lil­ly’s stag­nant busi­ness plan. One of Lil­ly’s home­grown suc­cess sto­ries, Ricks start­ed on with the drug­mak­er back in 1996 as a busi­ness de­vel­op­ment as­so­ciate be­fore steadi­ly ris­ing through the ranks over the course of 25 years.

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His­toric drug pric­ing re­forms pass; Pfiz­er ac­quires GBT; The long search for non-opi­oid pain drugs; and more

Welcome back to Endpoints Weekly, your review of the week’s top biopharma headlines. Want this in your inbox every Saturday morning? Current Endpoints readers can visit their reader profile to add Endpoints Weekly. New to Endpoints? Sign up here.

The Endpoints Weekly has officially crossed the 60,000 mark on subscribers — thanks to all of your support. As the editorial team grows, we’ve been able to do a lot more, with many of those on display this week. Be sure to check out Lei Lei Wu’s deep dive on pain R&D. If you missed it, you may also rewatch her companion panel here.

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Gold for adults, sil­ver for in­fants: Pfiz­er's Pre­vnar 2.0 head­ed to FDA months af­ter Mer­ck­'s green light

Pfizer was first to the finish line for the next-gen pneumococcal vaccine in adults, but Merck beat its rival with a jab for children in June.

Now, two months after Merck’s 15-valent Vaxneuvance won the FDA stamp of approval for kids, Pfizer is out with some late-stage data on its 20-valent shot for infants.

Known as Prevnar 20 for adults, Pfizer’s 20vPnC will head to the FDA by the end of this year for an approval request in infants, the Big Pharma said Friday morning. Discussions with the FDA will occur first and more late-stage pediatric trials are expected to read out soon, informing the regulatory pathway in other countries and regions.

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No­var­tis re­ports two pa­tient deaths af­ter treat­ment with Zol­gens­ma

Two children with spinal muscular atrophy have died after receiving Novartis’ Zolgensma, a gene therapy designed as a one-time treatment for the rare fatal disease.

The deaths, which resulted from acute liver failure, occurred in Russia and Kazakhstan, Novartis confirmed in a statement to Endpoints News. Having notified health authorities across all the markets where Zolgensma is available, it will update the drug label “to specify that fatal acute liver failure has been reported,” a spokesperson wrote.

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House pass­es his­toric drug pric­ing re­forms, lin­ing up decades-in-the-mak­ing win for Biden and De­moc­rats

The US House of Representatives today voted along party lines (all Dems voted for it), 220-207 to pass new, wide-ranging legislation that will allow Medicare drug price negotiations for the first time ever, and cap seniors’ drug expenses to $2,000 per year and seniors’ insulin costs at $35 per month.

Setting up a major victory for President Joe Biden, representatives returned from their summer recess to pass the Inflation Reduction Act, even as many noted the bill would only modestly reduce inflation.

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Senate Finance Committee Chair Ron Wyden (D-OR) (Francis Chung/E&E News/POLITICO via AP Images)

Sen­ate Fi­nance chair con­tin­ues his in­ves­ti­ga­tion in­to phar­ma tax­es with re­quests for Am­gen

Amgen is the latest pharma company to appear on the radar of Senate Finance Committee Chair Ron Wyden (D-OR), who is investigating the way pharma companies are using subsidiaries in low- or zero-tax countries to lower their tax bills.

Like its peers Merck, AbbVie and Bristol Myers Squibb, Wyden notes how Amgen uses its Puerto Rico operations to consistently pay tax rates that are substantially lower than the U.S. corporate tax rate of 21%, with an effective tax rate of 10.7% in 2020 and 12.1% in 2021.

FDA ap­proves sec­ond in­di­ca­tion for As­traZeneca and Dai­ichi's En­her­tu in less than a week

AstraZeneca and Daiichi Sankyo’s antibody-drug conjugate Enhertu scored its second approval in less than a week, this time for a subset of lung cancer patients.

Enhertu received accelerated approval on Thursday to treat adults with unresectable or metastatic non-small cell lung cancer (NSCLC) whose tumors have activating HER2 (ERBB2) mutations, and who have already received a prior systemic therapy.

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J&J to re­move talc prod­ucts from shelves world­wide, re­plac­ing with corn­starch-based port­fo­lio

After controversially spinning out its talc liabilities and filing for bankruptcy in an attempt to settle 38,000 lawsuits, Johnson & Johnson is now changing up the formula for its baby powder products.

J&J is beginning the transition to an all cornstarch-based baby powder portfolio, the pharma giant announced on Thursday — just months after a federal judge ruled in favor of its “Texas two-step” bankruptcy to settle allegations that its talc products contained asbestos and caused cancer. An appeals court has since agreed to revisit that case.

CSL is gathering its four business units under a unified brand identity strategy (Credit: CSL company site)

CSL brings Se­qirus, Vi­for un­der par­ent um­brel­la brand in iden­ti­ty re­vamp

CSL is gathering its brands under the family name umbrella, renaming its vaccine and newly acquired nephrology specialty businesses with the parent initials.

CSL Seqirus and CSL Vifor join CSL Plasma and CSL Behring as the four now uniformly branded business units of the global biopharma. The Seqirus vaccine division was formed in 2015 with the combination of bioCSL and its purchase of Novartis’ flu vaccine business. CSL picked up Vifor Pharma late last year in an $11.7 billion deal for the nephrology, iron deficiency and cardio-renal drug developer.

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