The last time GEN compiled a list of CEOs, investors, and others with the biggest stakes in biopharma companies—what GEN calls “molecular millionaires”—was last year, based on 2016 data. Only one new person who had not been listed in previous editions made the cut back then.

This year’s updated list includes two newcomers not appearing on the 2017 list, with at least two others possibly emerging by this time next year—namely the chairman and CEO of Moderna Therapeutics, which in November filed for the biggest-ever biotech initial public offering at $500 million, and then two weeks later, on November 28, raised its proposed IPO to $600 million.

According to Moderna’s amended S-1/A amended registration statement, Chairman Noubar B. Afeyan, Ph.D., held 58,882,696 shares (19.5%), while CEO Stéphane Bancel owned 30,942,575 shares (10%). At the high end of the price range for Moderna shares, $24 a share, Dr. Afeyan’s shares would have a total value of $1,413,184,704, and Bancel’s, $742,621,800—values that would be high enough to be ranked as molecular millionaires in any year GEN has published the list.

Even at the low end of prices at $22 a share, Bancel’s stock would be worth $680,736,650, good enough for eighth place this year, while Dr. Afeyan would still be a molecular billionaire, so to speak, at $1,295,419,312, which would be high enough to rank fourth.

This year’s list saw four molecular billionaires, and one person close behind at just over $941 million—compared to five billionaires and a fifth person close behind in January 2017. The total wealth for all 10 molecular millionaires this year fell 6.7%, to $12,260,685,597 from the $13,144,230,318 racked up by the top 10 on GEN’s previous list—largely reflecting the Wall Street roller-coaster that saw stock prices slump in 2016, then rebound last year, then fall again this year.

Among executives no longer included as GEN molecular millionaires are Jean-Paul Clozel, who was CEO of Actelion until the company was acquired by Johnson & Johnson for approximately $30 billion last year, and William A. Ackman, the activist investor who last year sold all his shares in Valeant Pharmaceuticals International (now Bausch Health) following a reported $4 billion in losses as Valeant’s shares cratered 96% since the summer of 2015.

#10. Patrick Soon-Shiong, MBBCh
CEO and Chairman, NantHealth; Chairman and CEO, NantKwest
Total value of all shares: $491,160,160 1
70,113,411 NantHealth shares as of April 13; 66,378,861 NantKwest shares as of April 17.
Closing prices: NantHealth shares closed at $3.01 on April 13; NantKwest shares closed at $4.22 on April 17

#9. John C. Martin, Ph.D.
Chairman of the Board, Gilead Sciences
Total value of all shares: $563,635,234
7,159,091 shares of common stock as of February 28 2
Closing price on February 28: $78.73

#8. Phillip Frost, M.D.
CEO and Chairman, OPKO Health; Investor, ChromaDex; Director, Cocrystal Pharma
Total value of all shares: $656,455,496 3
196,624,883 OPKO Health shares as of April 18; 3,340,410 ChromaDex shares as of April 23; 3,664,014 Cocrystal Pharma shares as of June 8
Closing prices: OPKO Health shares closed at $3.22 on April 18; ChromaDex shares closed at $4.24 on April 23; Cocrystal Pharma shares closed at $2.50 on June 8

#7. Jeffrey C. Smith
Director, Perrigo
Total value of all shares: $794,689,766
9,641,953 shares of common stock as of March 6 4
Closing price on March 6: $82.42

#6. P. Roy Vagelos, M.D.
Chairman, Regeneron Pharmaceuticals
Total value of all shares: $832,824,402
2,561,906 shares of common stock as of April 12
Closing price on April 12: $325.08

#5. George D. Yancopoulos, M.D., Ph.D.
Founding Scientist; President, Regeneron Laboratories; and CSO, Regeneron Pharmaceuticals
Total value of all shares: $941,098,473
2,852,225 shares of common stock and 42,750 Class A shares as of April 12 5
Closing price on April 12: $325.08

#4. Felix Baker, Ph.D.
Director, Alexion Pharmaceuticals
Total value of all shares: $1,111,014,773
8,789,855 shares of common stock as of March 12 6
Closing price on March 12: $127.08

#3. Alice N. Schwartz
Co-founder and Director, Bio-Rad Laboratories
Total value of all shares: $1,823,543,622
2,737,293 Class A shares of common stock and 4,556,298 Class B shares of common stock as of April 10 7
Closing price on April 10: $250.02

#2. Leonard S. Schleifer, M.D., Ph.D.
President and CEO, Regeneron Pharmaceuticals
Total value of all shares: $1,906,190,776
4,137,194 shares of common stock and 1,726,565 Class A shares as of April 12
Closing price on April 12: $325.08

#1. Julian C. Baker
Lead Independent Director, Incyte
Total value of all shares: $3,140,072,895
34,517,675 shares of common stock as of March 5 8
Closing price on March 5: $90.97

 

References
1. Reflects $280,118,793 value of NantKwest shares, and $211,041,367 value of NantHealth shares.
2. Includes 3,435,493 shares subject to stock options exercisable within 60 days of February 28, 2018 and 731,917 shares held in trust
3. Reflects $633,132,123 value of OPKO Health shares, $14,163,338 value of ChromaDex shares, and $9,160,035 value of Cocrystal Pharma shares.
4. Represents shares held by certain funds and managed accounts for which Starboard Value LP serves as manager or investment manager. Smith serves as a Managing Member, CEO, and Chief Investment Officer of Starboard Value LP.
5. Class A stock is convertible on a share-for-share basis into common stock. The Class A stock is entitled to 10 votes per share at the Annual Meeting, and the common stock is entitled to one vote per share.
6. Dr. Baker has shared voting and investment power over the 7,575,748 shares of common stock owned by Baker Bros. Advisors LP and has shared voting and investment power over 94,410 shares of common stock owned by FBB Associates. Includes 12,763 and 20,226 shares acquired Julian C. Baker and Stephen R. Biggar, respectively, upon exercise of stock options issued by Synageva BioPharma, acquired by Alexion in June 2015. Dr. Baker disclaims beneficial ownership of these shares except to the extent of his pecuniary interests therein.
7. Includes $684,377,996 in Class A shares of common stock and $1,139,165,626 in Class B shares of common stock that hold preferential voting rights, such as 10 times the voting power of Class As, and election of four directors, versus two for Class As, at the company’s annual meeting.
8. Includes 155,704 shares directly held by Julian C. Baker; the rest are held by entities affiliated with him and Felix J. Baker, by Felix J. Baker, or partnerships being advised by Baker Bros. Advisors LP, whose sole general partner is Baker Bros. Advisors (GP), LLC, whose principals include Julian C. Baker and Felix J. Baker.

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