Good year, bad year? Two biotech CEOs hit pay dirt in 2018 as com­pen­sa­tion pack­ages swell

By any ac­count­ing mea­sure, John Oyler had a big year last year, steer­ing BeiGene to a mon­ster $903 mil­lion Hong Kong IPO, then watch­ing the stock lan­guish as the Chi­na-based biotech put its PD-1 on a track to reg­u­la­tors. But what­ev­er short­com­ings may have been in the mix at BeiGene, they didn’t pre­vent the CEO from scor­ing one of the rich­est com­pen­sa­tion pack­ages in bio­phar­ma.

In a re­cent fil­ing with the SEC BeiGene $BGNE re­vealed that the com­pa­ny founder made off with a com­pen­sa­tion deal worth $27.9 mil­lion, a big step up from the $10.3 mil­lion he snagged in 2017 and the rel­a­tive­ly mod­est $4.6 mil­lion he got for 2016 — the year BeiGene’s first IPO hit Nas­daq. 

The big stock awards he got put him as the new num­ber 2 on our pay chart, just be­hind Kare Schultz at Te­va and just ahead of John Mil­li­gan, ex-CEO at Gilead.

Xi­aobin Wu

The big­ger pack­age at the top didn’t nec­es­sar­i­ly trans­late in­to big rais­es for the rest of the team at BeiGene. CMO for hema­tol­ogy Jane Huang nailed a pack­age that was worth $3.4 mil­lion, up from $3 mil­lion the year be­fore. About the same for CMO-I/O Amy Pe­ter­son. But Oyler’s new Chi­na man­ag­er re­cruit­ed last April, Xi­aobin Wu, bagged an im­pres­sive $21.5 mil­lion, which would fall in the mid­dle of the pack for the best paid Big Phar­ma CEOs who have re­port­ed so far.

This past year is prov­ing quite a boon for biotech CEOs, where pay can vary from one year to the next. As we re­port­ed ear­li­er this week, Nick Leschly made out hand­some­ly among the rest of the field, with a com­pen­sa­tion deal that tops out at $24 mil­lion. He made $8.7 mil­lion the year be­fore.

Fur­ther spot­light­ing the bo­nan­za trend, I see that Alk­er­mes $ALKS CEO Richard Pops, who had one of the worst years in the in­dus­try, al­so man­aged to cut a big­ger slice of the ex­ec­u­tive pay pie for 2018. Dur­ing the year, we car­ried a string of re­ports on the com­pa­ny’s big pitch for a new de­pres­sion drug, which had been bur­dened by too much bad da­ta. 

The FDA nev­er tired of shoot­ing them down, de­spite the protests.

Richard Pops

Pops, it turns out, nev­er­the­less bagged a $17 mil­lion com­pen­sa­tion pack­age, up from $9.4 mil­lion. CMO Craig Hop­kin­son picked up $3.8 mil­lion.


Top im­age: John Oyler, the founder and CEO of BeiGene, at #BI­IS18, the US-Chi­na Bio­phar­ma In­no­va­tion and In­vest­ment Sum­mit in Shang­hai on Oc­to­ber 23, 2018  End­points News, Pharm­Cube

A new era of treat­ment: How bio­mark­ers are chang­ing the way we think about can­cer

AJ Patel was recovering from a complicated brain surgery when his oncologist burst into the hospital room yelling, “I’ve got some really great news for you!”

For two years, Patel had been going from doctor to doctor trying to diagnose his wheezing, only to be dealt the devastating news that he had stage IV lung cancer and only six months to live. And then they found the brain tumors.

“What are you talking about?” Patel asked. He had never seen an oncologist so happy.

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Anthony Fauci (AP Images)

West Vir­ginia man faces prison time for threat­en­ing emails to Fau­ci, oth­er health of­fi­cials

NIAID director Anthony Fauci gained hero status amid the pandemic, earning Americans’ trust and even Time magazine’s Guardian of the Year title. But he and other federal health officials have also faced intense threats, according to charges brought by the US Department of Justice.

A West Virginia man is facing up to 10 years in prison after threatening Fauci, former NIH director Francis Collins, and HHS assistant secretary for health Rachel Levine via email, the DOJ said on Monday. Thomas Patrick Connally, Jr., pleaded guilty on Monday to using an anonymous email address to threaten the officials for performing their official duties, including discussing Covid-19 testing and prevention.

Mihael Polymeropoulos, Vanda Pharmaceuticals CEO

Phar­ma com­pa­ny con­tin­ues its FDA law­suit spree, this time af­ter agency de­nies fast-track des­ig­na­tion

Vanda Pharmaceuticals is making a name for itself, at least in terms of suing the FDA.

The DC-headquartered firm on Monday filed its latest suit against the agency, with the company raising concerns over the FDA’s failure to grant a fast track designation for Vanda’s potential chronic digestive disorder drug tradipitant, which is a neurokinin 1 receptor antagonist.

Specifically, Vanda said FDA’s “essential point” in its one-page denial letter on the designation pointed to “the lack of necessary safety data,” which was “inconsistent with the criteria for … Fast Track designation.”

Stéphane Bancel, Moderna CEO (Charles Krupa/AP Images)

Mod­er­na chief Ban­cel to do­nate about $355M worth of ear­ly stock to char­i­ty

Four days ago, Moderna CEO Stéphane Bancel was made a Chevalier — basically knighted — in his home country of France. And now the billionaire CEO said he will exercise and donate about  $355 million in stock options.

Bancel announced early Tuesday via a blog post that he and his wife Brenda will be donating the after-tax proceeds of his original stock options to charity — the stock options Bancel was granted back in 2013 after he became CEO, two years after he first joined the mRNA specialist outfit.

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Mod­er­na seeks to dis­miss Al­ny­lam suit over Covid-19 vac­cine com­po­nent, claim­ing wrong venue

RNAi therapeutics juggernaut Alnylam Pharmaceuticals made a splash in March when it sued and sought money from both Pfizer and Moderna regarding their use of Alnylam’s biodegradable lipids, which Alnylam claims have been integral to the way both companies’ mRNA-based Covid-19 vaccines work.

But now, Moderna lawyers are firing back, telling the same Delaware district court that Alnylam’s claims can only proceed against the US government in the Court of Federal Claims because of the way the company’s contract is set up with the US government. The US has spent almost $10 billion on Moderna’s Covid-19 vaccine so far.

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(Credit: Shutterstock)

Cracks in the fa­cade: Is phar­ma's pan­dem­ic ‘feel good fac­tor’ wan­ing?

The discordant effects of the Covid-19 pandemic on pharma reputation continues. While the overall industry still retains a respectable halo from its Covid-19 quick response and leadership, a new patient group study reveals a different story emerging in the details.

On one hand, US patient advocacy groups rated the industry higher-than-ever overall. More than two-thirds (67%) of groups gave the industry a thumbs up for 2021, a whopping 10 percentage point increase over the year before, according to the PatientView annual study, now in its 9th year.

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David Sinclair, Genocea Biosciences co-founder (Alpha Wave Global)

Geno­cea reach­es end of road, delist­ing from Nas­daq and let­ting go of re­main­ing staff

A pivot into neoantigen immunotherapies was not enough to save Genocea Biosciences after all.

The 16-year-old biotech said it would be closing down and laying off all remaining employees “except those deemed necessary to complete an orderly wind down” of operations. It has also delivered a formal notice to Nasdaq, notifying the stock exchange of its intent to delist voluntarily.

The move comes a month after Genocea laid off 75% of its workforce and revealed it’s looking for strategic alternatives, such as a sale, merger or reverse merger. At the end of 2021, it had 74 employees.

Michael Corbo, Pfizer CDO of inflammation & immunology

UP­DAT­ED: Plan­ning ahead for crowd­ed ul­cer­a­tive col­i­tis mar­ket, Pfiz­er spells out PhI­II da­ta on $6.7B Are­na drug

Pfizer has laid out the detailed results behind its boast that etrasimod — the S1P receptor modulator at the center of its $6.7 billion buyout of Arena Pharma — is the winner of the class, potentially leapfrogging an earlier entrant from Bristol Myers Squibb.

Pivotal data from the ELEVATE program in ulcerative colitis — which consists of two Phase III trials, one lasting 52 weeks and the other just 12 weeks — illustrate an “encouraging balance of efficacy and safety,” according to Michael Corbo, chief development officer of inflammation & immunology at Pfizer. The company is presenting the results as a late breaker at Digestive Disease Week.

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Robert Califf (Michael Brochstein/Sipa USA via AP Images)

House Re­pub­li­cans at­tack Chi­na-on­ly da­ta in FDA sub­mis­sions, seek new in­ves­ti­ga­tion in­to re­search in­spec­tions

Three Republican representatives are calling on the FDA to take a closer look at the applications including only clinical data from China.

The letter to FDA commissioner Rob Califf late last week comes as the agency recently rejected Eli Lilly’s anti-PD-1 antibody, which attempted to bring China-only data but ran into a bruising adcomm that may crush the hopes of any other companies looking to bring cheaper follow-ons based only on Chinese data.

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