It’s been 12 years since China biotech BeiGene started operations and six years since it went public as a budding developer of cancer treatments.
Now, its co-founder, CEO and chairman John Oyler is getting paid like a big-time pharma exec. In 2021, the company rewarded him with $16.75 million in compensation, according to an SEC filing. The figure was 16% larger than his $14.41 million compensation package in 2020.
Of Oyler's total pay last year, the CEO nabbed a combined $15 million in share and option awards. His cash incentive pay came to $919,000 and his salary was $740,000. Oyler isn't compensated for his role as chairman of the board.
BeiGene also reported first-quarter 2022 results on Thursday. During the first three months of the year, the company generated $261.1 million, a 146% increase from the same quarter a year ago.
Blood cancer chemo drug Brukinsa drove the increase by pulling in $104.3 million, a 372% increase from the first quarter of 2021.
Oyler made waves in 2017 when he earned nearly $28 million from the company, including a one-time, long-term incentive award valued at $15 million in “recognition of his extraordinary leadership and our achievements.”
Now, as BeiGene works to grow into a global biopharma powerhouse, Oyler's pay is on par with some Big Pharma giants—or more in some cases. The CEOs for Novartis and Roche, for instance, collected about $12 million last year. Sanofi CEO Paul Hudson scored about $12.26 million.
As for BeiGene's other execs, Xiaobin Wu, who serves as CEO and GM in China, collected $9.64 million, up from his 2020 pay of $8.43 million. Jane Huang, who resigned as chief medical officer in March and stayed on in a consulting role until November, collected $5.12 million.
Lai Wang, a BeiGene vet in his first year as R&D chief, made $6.45 million. Chief financial officer Julia Wang, also in her first year in the company’s C-suite, collected $3.74 million.