Elliott Sigal, Bristol-Myers Squibb ($BMY)
2012 Pay Package: $8.34 million
2011 Pay Package: $9.03 million
2012 Compensation: $1.06 million in salary; $3.2 million in stock awards; $1.87 million in incentive pay; $1.7 million in pension growth and deferred compensation; $450,082 in other compensation
Until he was replaced by Francis Cuss, former Bristol-Myers R&D Chief Elliott Sigal had been a member of the pharma giant's senior management team since 2001. A well-known face in the biopharma world, Sigal helmed Bristol-Myers' R&D efforts since 2004 and played a lead role in the company's celebrated "string of pearls" strategy--designed to refill Bristol-Myers' pipeline with new alliances, partnerships, and small buyouts that complement the company's existing operations.
Bristol-Myers falls just outside the world's top 10 R&D spenders, with a research budget of $3.9 billion in 2012, up slightly from the $3.8 billion spent in 2011. During Sigal's tenure as head of R&D, Bristol-Myers brought 14 new drugs to market, including Abilify, Reyataz, Erbitux, Baraclude, Orencia, Sprycel, Atripla, Ixempra and Onglyza. But 2012 brought Bristol-Myers its share of setbacks. In August, the company canned a hep C program it had bought earlier in the year, after one clinical trial patient died and others were hospitalized. And with former megablockbuster Plavix sales reeling from generic competition, the company's new R&D honcho has no shortage of work ahead.
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-- Emily Mullin