2013 pay package: $5.9 million
2012 pay package: $6.1 million
2013 compensation: $896,543 in salary; $3.2 million in stock awards; $1.5 million in non-equity incentive plan compensation; $265,228 in other compensation
Sean Harper took a bit of a pay cut in his second year filling the shoes of Roger Perlmutter at Amgen ($AMGN), a decline largely due to an across-the-board hit in stock awards for all of the company's execs.
Meanwhile, the Thousand Oaks, CA, drug developer is in the midst of a cross-cutting reorganization that has it looking more pharma-like than biotech-ish each year. Under Harper's direction, Amgen's R&D efforts have expanded its in both proprietary drugs and biosimilars, spending big on a sprawling pipeline and stretching out through M&A.
But the move toward Biggest Biotech hasn't disrupted Amgen's innovation engine, and the company has the promising late-stage assets to back up its liberal spending.
Amgen is leading the race among companies developing PCSK9 blockers, a new class of cardiovascular drugs expected become blockbusters in a hurry. Evolocumab, formerly AMG 145, has charted sustained and impressive reductions in LDL cholesterol across a fleet of late-stage studies, and analysts expect it to hit the market well ahead of rival treatments from Pfizer ($PFE) and partners Sanofi ($SNY) and Regeneron ($REGN).
And Harper is bullish on his company's cancer pipeline, staying optimistic about the oncolytic vaccine T-Vec despite a slight efficacy miss in a Phase III melanoma trial. Amgen is also pushing ahead with trebananib, a late-stage ovarian cancer therapy, and blinatumomab, a leukemia drug with mid-stage results the company believes could merit an early FDA approval.
- here's Amgen's report
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