2012 pay package: $5.18 million
2011 pay package: $4.21 million
Professional Profile: Before founding Actelion Pharmaceuticals ($ATLN) in 1997, Jean-Paul Clozel was a practicing cardiologist for 11 years. He served as the head of the Drug Discovery Group in the Cardiovascular Department of F. Hoffmann-La Roche for 12 years, from 1985 to 1997. He has served as Actelion's CEO since 2000.
2012 Compensation Stack: $1.109 million in salary; $1.409 million in bonus; $1.109 in stocks, $652,796 in options; $362,142 in pension; $539,917 in incentives and other compensation
Company Performance: 2012 was a mixed bag for Actelion. In April, the company showed impressive late-stage study results for macitentan in patients with pulmonary arterial hypertension (PAH). Actelion is currently seeking FDA approval for macitentan, a pivotal piece of Actelion's future in the competitive market for drugs against PAH, for which its aging blockbuster Tracleer is used.
Then last summer, faltering sales of Tracleer led the Swiss company to cut 135 jobs and refocus its R&D.
A few months later, in December, Actelion announced upbeat data from a midstage trial of its plaque psoriasis candidate ponesimod. In the U.S., the company's PAH product portfolio continues to face significant competition, and in 2012, the company reported total product sales of CHF (Swiss francs) 1.722 billion, or $1.815 billion. This is marginally lower--about 2%--than 2011's total. Despite a slight dip in sales, the company posted a solid top-line performance, with benefits from cost reductions boosting earnings by 6% in local currencies.
As Japan emerges as a PAH market and countries like Mexico, Russia and China continued to generate strong local-currency sales growth, about 41% of Actelion's 2012 sales came from U.S. operations, 37% from Europe, 12% from Japan and 10% from the rest of the world.
Actelion has had one of the largest R&D budgets among global biotechs as CEO Clozel has been heavily invested in widening the company's scope of business beyond Tracleer.
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