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September 23, 2013

Top 40 Molecular Millionaires

Who’s stocking up on biopharma stock?

Top 40 Molecular Millionaires

We’ve doubled our list from last year and this time included all categories of shares of common stock. [AlienForce - Fotolia.com]

  • Following is a list of 40 executives of publicly traded biopharma drug developers and tools/technology companies, ranked by the total value of their shares of common stock as stated on the companies’ proxy statements or Form 20-F statements. Each executive is listed with their title and company, the total value of their shares of common stock, the number of shares of common stock (by category where available), and the closing share price of their company’s stock as of the “record date” for determining shareholders entitled to notice of, and to vote at, their company’s annual meeting, with footnotes where applicable.

    Unlike the first edition of this list last year (see “Top 20 Molecular Millionaires,” published in GEN October 2, 2012), all categories of shares of common stock were listed—not only the value of their shares of common stock as of the day they were tallied and recorded in filings, but shares of common stock which were exercisable or became so within a set period of time (typically 60 days) from the record date. The change reflects the fact numerous companies recorded the total number of shares of common stock for their largest shareholders—with explanations about multiple common stock categories in footnotes of the proxies or 20-F forms—in order to present a more complete picture of who owns what percentage of the companies’ stock. The change also explains why the top three on this list could better be described as molecular billionaires.

    The results showed the wealthiest molecular millionaires were officers, directors, former officers and directors, or investors of mature biotechs—typically those with products on the market, and the profits that follow. Several companies in that category could boast of having multiple executives, directors, or investors on this year’s list: Regeneron Pharmaceuticals led biotechs—and all companies, for that matter—with seven, followed by Vertex Pharmaceuticals (four), Bio-Rad Laboratories and Danaher (three each), and Bristol-Myers Squibb, Life Technologies, and Mettler Toledo (two each).

    The results reflect how good a year 2012 was for Regeneron and Vertex. In its proxy report, Regeneron noted the company overachieved its goals for last year, among them continued successful commercialization of Eylea (aflibercept) injection, including launch following FDA approval for a new macular edema indication; and FDA approval of Zaltrap (ziv-aflibercept) injection for IV infusion for use with Folfiri for metastatic colorectal cancer. Vertex launched Kalydeco for cystic fibrosis shortly after it gained FDA approval on August 31, 2012 and quickly racked up $171.6 million in sales, a figure expected to rise significantly this year.

    Big pharmas have only a small presence on this list, with only five executives and/or investors from four such companies appearing. Ranking highest among big pharmas, at No. 14, was not a current pharma exec but a retired chairman. The CEOs of two other pharma giants—Joseph Jimenez of Novartis, and Ian C. Read of Pfizer—narrowly missed the top 40.

  • #30. John C. Lechleiter, Ph.D.

    Chairman of the Board, President, and CEO, Eli Lilly

    Total value of all shares: $64,099,59915

    653,571 shares of common stock16; 468,775 options exercisable/restricted stock units distributable within 60 days; 58,778 restricted stock units not distributable within 60 days

    Closing price: $54.27 as of February 22

  • #29. Neil Stahl, Ph.D.

    SVP, Research & Development, Regeneron Pharmaceuticals

    Total value of all shares: $63,345,275

    297,284 shares of common stock as of April 1717

    Closing price on April 17: $213.08

  • #28. Kenneth C. Frazier

    Chairman, President, and CEO, Merck & Co

    Total value of all shares: $64,254,29718

    242,561 shares of common stock19 and 1,261,167 in options/stock units that were exercisable/distributable within 60 days as of February 28

    Closing price on February 28: $42.73

  • #27. Vincent A. Forlenza

    Chairman, CEO, and President, Becton, Dickinson

    Total value of all shares: $68,455,65320

    79,199 shares of common stock21 and 813,662 shares that may be acquired within 60 days22, as of December 1, 2012

    Closing price on December 1, 2012: $76.67 on November 30 (no trading on December 1)

  • #26. Robert A. Bradway

    Chairman of the Board, President and CEO, Amgen

    Total value of all shares: $77,802,61523

    436,728 shares of common stock and 366,935 shares acquirable within 60 days of March 2524

    Closing price on March 25: $96.81

  • #25. Matthew W. Emmens

    Former Chairman, CEO and President, Vertex Pharmaceuticals

    Total value of all shares: $78,128,607

    1,486,748 shares of common stock as of March 1125

    Closing price on March 11: $52.55

  • #24. Peter D. Meldrum

    President and CEO, Myriad Genetics

    Total value of all shares: $78,773,55026

    1,871,995 shares of common stock as of September 1, 201227

    Closing price on September 1, 2012: $42.08 on August 31, 2012 (no trading on September 1, 2012)

  • #23. Howard Solomon

    Chairman, President, and CEO, Forest Laboratories

    Total value of all shares: $98,096,120

    2,424,521 shares of common stock as of June 2428

    Closing price on June 24: $40.46

  • #22. Gregory T. Lucier

    Chairman and CEO, Life Technologies2

    Total value of all shares: $107,336,914

    1,790,142 shares of common stock as of March 629

    Closing price on March 6: $59.96

  • 21. Olivier T. Filliol

    President and CEO, Mettler Toledo

    Total value of all shares: $108,178,68130

    16,279 direct shares of common stock and 496,562 indirect shares of common stock subject to stock options that were exercisable within 60 days, as of March 4

    Closing price on March 4: $210.94

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