Robert Bradway, Amgen

Chairman and CEO, Amgen
Total 2014 Compensation: $13.96 million

In a year when several of his peers won big payoffs for one extraordinary reason or another, Amgen ($AMGN) CEO Robert Bradway earned just about as much as he had the previous year, give or take a few hundred thousand. Small comfort--though some comfort, perhaps--to the thousands of employees facing job cuts as Amgen prepares for biosimilar competition to its top-selling meds.

Actually, Bradway's pay package has remained fairly steady for the past three years with a small-but-steady uptick, from $13.57 million in 2012 to $13.96 million in 2014. His fellow executives weren't as fortunate, however. All of the Amgen execs still serving with Bradway took a pay cut for 2014, with commercial chief Anthony Hooper's compensation sinking the most. Only Jonathan Peacock--who left the company last July--collected a big increase, and that was because of his severance pay.

Meanwhile, some 2,900 Amgen employees are either facing layoffs or have already lost their jobs. Last July, the company said manufacturing and R&D sites in Colorado and Washington state would be shuttered or cut back, while its headquarters staff and sales force would both shrink.

That's one reason Bradway and his team met most of their goals for 2014. According to the company's proxy statement, Amgen hit its cost-cutting targets last year and beat its profits goal with $6.7 billion in adjusted net income. Its more than $20 billion in revenue surpassed that goal, as the aging blockbuster Enbrel continued to churn out cash. Late-stage R&D? Check, what with its PCSK9 med evolocumab and psoriasis med brodalumab advancing through the pipeline. Where it fell short, according to the proxy: early-stage R&D and follow-up drug delivery development, a.k.a. lifecycle management.

For more:
Special Reports: 15 Highest-Paid Biopharma CEOs of 2013 - Robert Bradway - Amgen | The top 15 pharma companies by 2014 revenue - Amgen
How well paid are pharma execs? Best in healthcare, survey shows
Was Onyx worth it? Amgen's case is looking up as Kyprolis bests Velcade in head-to-head trial
Amgen zooms past $20B in sales, sparked by Enbrel, Neupogen and denosumab
Amgen faces a make-or-break 2015 with its late-stage pipeline
Can Amgen's marketing muscle vault its Humira biosim ahead of rivals?
Amgen makes deep job cuts to position itself for post-Enbrel world

Robert Bradway, Amgen

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