Amgen's Bradway nets $13.65M in 2013, sans Onyx bonus

Amgen CEO Robert Bradway

Amgen ($AMGN) CEO Robert Bradway may have orchestrated 2013's biggest M&A deal in pharma, nabbing Onyx Pharmaceuticals for $10.4 billion last summer, but that wasn't enough to net him the kind of deal-related bonus some of his peers enjoy. But it's not as though the helmsman went empty-handed in 2013: His take-home increased over last year's haul, which was enough to score him 13th place on the list of biopharma's highest-paid chiefs.

According to a proxy filing, Bradway made $13.65 million in total compensation for 2013, an improvement on the $13.57 million he pocketed for his work in 2012. About $1.5 million of that came from his base salary, with stock units--performance-based and restricted--tallying about $8 million, incentive plan compensation totaling close to $3.6 million and other compensation coming in at $561,121.

But as far as bonuses go, Bradway's was nil--as were those of Amgen's EVPs. To put things in context, Actavis ($ACT) CEO Paul Bisaro recently netted a $4 million bonus from his company's compensation committee, which gave "special consideration for the completion of the acquisition of Warner Chilcott"--an $8.5 billion pickup.

It's not as if the Onyx acquisition didn't factor into Bradway's pay at all. Take his nonequity incentives, for instance: Amgen based his annual cash award payments on the company's financial and operational performance against its targets, with revenue and adjusted net income each weighted 30%. And Kyprolis, Onyx's star blood cancer product, brought in $73 million in 2013 after the deal's completion, helping revenues surpass their $18 billion target and, in turn, helping Bradway's cash awards toward that $3.6 million mark.

Still, it's a relatively small impact compared with the effect Onyx and Kyprolis will have on Amgen's top line, especially considering Bradway's role in bagging the California-based biotech. In an unconventional M&A move applauded by analysts, he asked Onyx for trial data on the multiple myeloma med--a potential $3-billion-a-year seller, some say--that he knew the company couldn't provide, using its refusal as grounds to shave down his bidding price.

- read the proxy (PDF)

Special Report: 20 Highest-Paid Biopharma CEOs of 2012 - Robert Bradway - Amgen