Leonard "Len" Schleifer
Total Compensation: $30.047 million
Professional Profile: Len Schleifer, 60, is a college professor turned entrepreneur. In 1988, he left Cornell University Medical College, where he was an assistant professor in neurology and neurobiology, to start Regeneron ($REGN). He's been CEO ever since, persisting through many years of failures and setbacks, including delayed approval of Eylea, the vision drug that's Regeneron's current claim to fame. Earlier this year, he made FiercePharma's list of the 25 most influential people in biopharma.
Compensation Breakdown: $1 million in salary, $2.3 million cash bonus, $26.6 million in options and $116,791 worth of perks and other compensation.
Company Performance: Take a look at Regeneron's top line. From $25 million in 2010, product sales soared to $858 million last year, all thanks to the company's macular degeneration treatment Eylea. Adding the drug to revenue from various collaborations with other drugmakers took Regeneron into the black: from a $221.7 million loss in 2011 to a $750 million profit in 2012. And as Eylea took off, Regeneron and Schleifer racked up awards--including Science magazine's top biopharma employer worldwide--and its stock price rocketed upward almost as quickly as Virgin Galactic's latest ship.
Indeed, over the past 12 months, its shares more than doubled to $267 from $131. The company rewards many employees with stock and options; last year, its equity-based compensation expense amounted to about $150 million. "[M]any people have made lots of money," Schleifer told The Journal News, the local newspaper near Regeneron's Tarrytown, NY, headquarters. "We've probably made more millionaires than any company in the state in the past 10 years."
Last year wasn't all rosy, however. The company and partner Sanofi ($SNY) did win FDA approval for their new colon cancer drug Zaltrap. But immediate pushback on price inspired a 50% off sale. Sanofi reported first-quarter Zaltrap sales of $14 million; Regeneron will share in the profits--and losses--in all markets except Japan.
Special Reports: The 25 most influential people in biopharma today - 2013 - Leonard Schleifer - Regeneron | Regeneron - The Biggest R&D Spenders in Biotech
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