The Promise of ‘Cures’ for Drug Research and Development
Sounds of Science Podcast
GEN Holiday Gift Guide
15 Gift Picks for Your Lab or Home This Season
Disease Looks to Strike While the Climate Is Hot
Researchers Wrestle with Political Uncertainty and How It May Impact Disease Transmission
Back to School for Biotech
How Academia and Industry Can Collaborate to Advance Biologic Drug Development and Manufacturing
GEN Publishes Its Top 40 Molecular Millionaires List
New Rochelle, NY, September 25, 2013—Mitchell Rales, co-founder and chairman of the executive committee at Danaher (NYSE:DHR), took the top spot on the GEN 2013 List of Molecular Millionaires, which is based on company stock ownership. Rales, whose total value of all shares owned in Danaher is $2,974,281,127, was followed by his brother, Steven, co-founder and chairman of the board at Danaher, who landed in second place with $2,720,905,770 in company stock.
“GEN’s Molecular Millionaires continues to be one of our most popular listings,” says John Sterling, editor in chief of GEN. “It is a vivid demonstration of the financial power of biotechnology, which just a few decades ago was an activity largely carried out in small labs and garages.”
The number 3, 4, and 5 positions on the GEN list were filled, respectively, by Leonard Schleifer, president and CEO of Regeneron Pharmaceuticals (NASDAQ:REGN), with $1,130,975,370 worth of stock; Alice Schwartz, co-founder of Bio-Rad Laboratories (NYSE:BIO), with $912,592,050 in stock; and Norman Schwartz, president, CEO, and chairman of Bio-Rad Laboratories, with company stockholdings of $607,265,120.
The results showed the wealthiest molecular millionaires were officers, directors, former officers and directors, or investors—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 (NASDAQ:VRTX, four), Bio-Rad Laboratories and Danaher, three each, and Bristol-Myers Squibb (NYSE:BMY), Life Technologies (NASDAQ:LIFE), and Mettler Toledo (NYSE:MTD), two each.
To see the entire listing of GEN’s Top 40 Molecular Millionaires, please click here.