The 5 most overpaid pharma CEOs in the world
Everyone loves to debate the eight-figure pay packages pharma CEOs take home each year. Compensation critics argue that pretty much no one deserves that much money, while the companies’ boards claim they reward only the executives who get results.
So we did some math, looking at three years of pharma CEO pay and comparing it against total shareholder return, a widely used metric for gauging a company’s performance. Most CEOs saw their pay rise or fall with their firm’s fate, but we found five pharma execs who got sizable raises that far outpaced investor return.
And check out our spreadsheet
listing CEO pay, shareholder return, and corporate revenue at 28 of the biggest pharma companies worldwide.
Anyone care who wins the biopharma Olympics?
From CRISPR to CAR-T, the frenetic world of biopharma spawns race after race, and fuels some interesting discussion, too: When companies share platforms but not indications, what difference does it make to be first?
Take Editas. Endpoints wrote that the gene editing company just lost “its lead in the biotech race” to launch the first CRISPR trial in humans, with CRISPR Therapeutics pulling ahead on that particular milestone. That prompted Matthew Herper of Forbes to ask: Who cares?
After all, if two related companies are chasing different patient populations, such as CAR-T players Kite Pharma and Novartis, why does it matter who gets that IND filed first?
We want your take: Does the horse race matter? Click to vote.
It matters not.
It counts! Especially for investors. And patients. And bragging rights.
Moderna is completely boxed in when it comes to intellectual property
That’s according to the guy at the center of a legal fight that could have major implications for biotech’s biggest unicorn.
Mark Murray, CEO of Arbutus, told Forbes yesterday that Moderna won’t be able to follow through on its promise to turn mRNA into an industry-changing technology without going through his company. That’s because Moderna is using Arbutus’ drug delivery know-how through an agreement with a third party. Arbutus is suing that third party, and if it’s successful, Moderna could be left out in the cold.
Here’s another interesting wrinkle: Moderna CEO Stéphane Bancel has downplayed the importance of the legal fight, saying the Arbutus technology is mediocre at best and insisting that his company has developed an even better delivery method of its own. When STAT asked Bancel about that new technology in January, he said it was all laid out in Moderna’s patent filings.
But Murray says he’s looked over the entirety of Moderna’s patent estate and sees little in the way of original delivery ideas. “In our view what they are reporting as theirs appears to be dominated by our intellectual property,” he told Forbes.
That’s an argument we may hear again in court.
Califf + Conrad = BFFs
Looks like Verily will be swapping out one bio-politico for another: While Dr. Tom Insel, formerly of the National Institute of Mental Health, has left the Google offshoot, it looks like former FDA commissioner Dr. Robert Califf will be signing on.
It’s not a surprise: Califf has deep ties to Verily CEO Andrew Conrad, as they worked together on a nascent version of the Baseline study.
Correction: In yesterday's newsletter, we said "Medicare" when we meant "Medicaid," and vice versa. We regret the error but are quite grateful to the readers who pointed it out.
- Biotech upstart Synlogic is going public through a reverse merger. (Boston Globe)
- Congressional investigators are looking into whether Representative Chris Collins acted unethically in promoting the biotech company Innate Immunotherapeutics. (Buffalo News)
- Using fungus to kill malarial mosquitoes. (STAT)