It's a great time to helm a large biotech company, generally. Big biotech players overall posted major growth last year, and their CEOs got richer in the process. Most got fat raises while others saw their bundles of pay pale in comparison to 2011 figures. We surveyed the total compensation packages of the 10 largest biotech companies based on market capitalization as of early May, sleuthing mostly proxy statements for the financial details on pay for some of the most powerful people in the industry. Check it out >>
The R&D numbers for the top 10 biotechs may only amount to a fraction of what you'll find in Big Pharma. But unlike the giants, which are trying to keep a lid on multibillion-dollar budgets, you'll find a much faster crowd when you turn your gaze to the biotechs.
Concert Pharma CEO Roger Tung has reeled in his third collaboration deal in a little more than a year, inking a $300 million pact with Celgene to tweak cancer and anti-inflammatory drugs with its deuterium-stabilizing technology.
Biogen Idec CEO George Scangos took home one of the largest pay packages in the biotech industry in 2012--a total of $13.45 million in 2012, a 19% jump in pay from his $11.33 million pay package the previous year, the Weston, MA-based company reported Monday in a proxy statement.
After a period of revamping a venture strategy gone wrong, Atlas Venture has come out today with news about an oversubscribed 9 th fund of $265 million. It's a rare comeback story in a VC industry that is suffering from an overall lack of capital to fuel startups in biotech and other high-risk-and-reward sectors.
Pharmaco-Kinesis Corporation has combined two tested, on-the-market cancer drugs to form one super-drug. If successful, it will be the first combination nano-drug product candidate.
Celgene and Forma have agreed to a broad collaboration in the field of protein homeostasis, which involves quality-control pathways in cells that play roles in cancer, neurodegenerative disorders and other diseases.
The Cambridge, MA-based biotech company has proposed to raise up to $69 million in a public debut, with plans to spend proceeds from the deal on advancing clinical trials for its top candidates against cancer-related epigenetic enzymes.
The agreement follows the start of a Phase I study of the compound, EPZ-5676, for which biotech giant Celgene has partnered with the startup for development outside the U.S.
Risk-management plans may be a burden for new drug launches, but they're proving to be a weapon against generic competition, too. As the New York Times reports, generics makers can't buy the supplies they need to knock off a product, thanks to REMS restrictions. So, they have to resort to asking branded drugmakers for supplies--and some of those companies aren't cooperating.