Chairman and CEO, Celgene
Total Compensation: $21 million
Professional Profile: With degrees from Princeton University and the University of Virginia, Robert Hugin joined J.P. Morgan & Co. in 1985. After becoming a managing director there, he departed for Celgene ($CELG), where he has served as a director since late 2001. Hugin has since filled the role of COO and CFO for the New Jersey company, taking up the company presidency in 2006. He took the CEO reins in 2010, and Celgene's board elected him chairman in June 2011. Hugin also recently closed out a one-year stint as chairman of the board of directors of PhRMA.
Company Profile: Celgene's marketed products performed well in 2013, with revenue increasing 17.9% to $6.49 billion. Revlimid's top-line contributions expanded 13.6% to break $4.2 billion, and Abraxane sales exploded by 52.1%. Multiple myeloma drug Pomalyst, too, saw steady growth, raking in more than $3 million after grabbing approvals in the U.S. and the EU in February and August, respectively. Those tallies put Celgene on its way to achieving Hugin's goal of doubling sales to $12 billion by 2017--a target he announced in January. But while sales might be headed up, net income took a hit last year, sinking 0.4% to $1.45 billion thanks to a variety of factors, including increased marketing spending, amortization expense and payments from R&D collaborations.
In terms of extending the markets for those drugs, 2013 went pretty well for Celgene. In June, the FDA approved Revlimid as a supplemental treatment for mantle-cell lymphoma. Another of the company's blood cancer drugs, Imnovid, got a boost later in the summer when it gained approval in Europe. And in September, Abraxane snagged approval as a first-line treatment for pancreatic cancer after extending median survival by two months in trials.
Celgene also made a series of agreements in 2013 to bolster its pipeline, including a $300 million deuterium-tweaking cancer collaboration with Concert Pharmaceuticals; an $818 million partnership with MorphoSys on an early-stage myeloma and leukemia drug; and a whopper $3.3 billion cancer stem cell deal with OncoMed ($OMED). -- Carly Helfand (email | Twitter)
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