Mikael Dolsten, Pfizer

2014 pay package: $7.3 million
2013 pay package: $6.5 million
Change: +12.3%
2014 compensation: $1.2 million in salary; $1.9 million in stock awards; $1.8 million worth of options; $1.3 million in nonequity incentive pay; $938,593 in pension contributions and deferred compensation earnings; and $156,180 in other compensation

Pfizer's ($PFE) Mikael Dolsten saw his paycheck return to growth after three years of gradual dips, bolstered by a jump in stock awards and earnings on deferred compensation. His raise, according to Pfizer, was tied to a pair of FDA approvals, the launch of four Phase III trials, and the signing of 9 asset-related deals and 10 major technology tie-ups.

After Pfizer got rebuffed by AstraZeneca ($AZN) in a protracted buyout gambit, Dolsten and his R&D team had to pivot to Plan B to grow the company's pipeline. Despite its revenue success, Pfizer has long lagged its rivals in some of the industry's hottest fields, including immuno-oncology and rare diseases, and the company's desire for AstraZeneca was in part an effort to fill some pipeline gaps.

Playing catch-up, Pfizer returned to the dealmaking table, paying $850 million up front to partner up on Merck KGaA's avelumab, an antibody to PD-L1 that has shown promise in unblinding the immune system to cancerous growths in the body. Pfizer followed that with a smaller agreement with iTeos Therapeutics in exchange for some preclinical immunotherapies with a different target.

And, buying into gene therapy's second honeymoon, Pfizer signed a $280 million deal with IPO darling Spark Therapeutics ($SPRK) to partner up on a one-time treatment for hemophilia B. Furthering the company's efforts in rare diseases, Pfizer also bought into OPKO's in-development therapy for growth hormone deficiency.

Pfizer's biggest R&D coup of the year came with the lightning-fast approval of Ibrance, a homegrown treatment for breast cancer expected to bring in sales between $3 billion and $5 billion a year at its peak. And the company is bringing up the rear in the race to commercialize a new class of cardiovascular treatments, as its PCSK9-blocking bococizumab is progressing through late-stage development behind antibodies from Amgen ($AMGN) and partners Sanofi ($SNY) and Regeneron ($REGN).

- here's the proxy (PDF)

For more:
Special Report:
The top R&D spenders in biopharma in 2013 - Pfizer: R&D gets smaller, simpler and not very exciting
Playing catch-up, Pfizer looks to leapfrog Big Pharma's immuno-oncology line
Pfizer powers into immuno-oncology with $2.85B R&D pact with Merck KGaA
Post-restructuring, Pfizer R&D focused on its top blockbuster prospects
Pfizer unveils $100M Boston effort to spark R&D innovation

Mikael Dolsten, Pfizer

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