2014 pay package: $18.3 million
2013 pay package: $7.8 million
2014 compensation: $1.1 million in base salary; $10.7 million in stock awards; $1.3 million in option awards; $2.6 million in nonequity incentive pay; $2.3 million in pension contributions; and $425,088 in other compensation
Johnson & Johnson's ($JNJ) decorated chief scientist is this year's biggest gainer, more than doubling his annual take-home thanks to an October award of $7.5 million worth of restricted stock units. The move, according to J&J, was designed both "to recognize his significant contributions to past performance and enhance his future retention."
And Paul Stoffels, who is widely credited with changing the tenor of J&J's R&D philosophy, is unlikely to leave any time soon. Since taking the lead role in J&J's development operation in 2009, the former Virco CEO has engendered a focus on open-ended innovation, looking beyond internal projects and seeking out partnerships across the industry and academia.
Most of the titans of drug development have abandoned the patents of cloistered R&D in recent years, but Stoffels' group has long been ahead of the curve. Six years ago, Stoffels launched a program called Project Playbook, under which J&J spelled out a few promising disease targets and then amassed all the relevant information on any drugs under development to treat them, building a matrix of potential licensing targets sorted by safety, efficacy and phase of development. That process helped J&J bring in the candidates that became Imbruvica, Olysio and daratumumab, a blood cancer treatment slated for an FDA filing this year.
Now Stoffels and company are setting their sights higher. J&J has promised to submit more than 10 new drugs to regulators by 2019, saying each has the potential to clear more than $1 billion in annual revenue. That includes the aforementioned daratumumab; the rheumatoid arthritis-treating sirukumab; guselkumab for psoriasis; plus candidates for cancer, pain, depression and infectious diseases.
And to keep up what Stoffels calls "a cycle of success," the company is expanding its commitment to collaborative development, constructing dealmaking outposts in biotech hot spots around the globe and nurturing potential partners through no-strings-attached residencies at its in-house incubator.
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