2014 pay package: $7.7 million
2013 pay package: $7.2 million
2014 compensation: $691,500 in salary; $767,672 in stock awards; $1.9 million worth of options; $4.1 million in non-equity incentive pay, including bonuses; and $148,364 in other compensation.
Times are good at Celgene ($CELG), and Thomas Daniel's paycheck tells some of the story. After a $3.2 million lump of incentive pay helped double his salary in 2013, the company's president of research and early development pulled in another $4.1 million payout tied to performance against the Big Biotech's pipeline goals, landing him on this list for the second year in a row.
Much of Daniel's bonus was tied to Celgene's continued successes with Revlimid, a blood cancer treatment for which the company is pushing to widen use. Daniel's group also scored a coup in autoimmune R&D last year with the approval of Otezla for psoriasis, and Celgene is now running clinical trials to expand that drug's indication to include psoriatic arthritis, eczema, inflammatory bowel disease and Behçet's disease.
But, as ever, the biggest story with Celgene is its penchant for dealmaking, and the biotech has spent the past year burnishing its reputation for padding its pipeline with ambitious and creative collaborations. In 2014, Celgene paid $710 million up front--the most in industry history--to get its hands on Nogra Pharma's late-stage Crohn's disease drug. And, one-upping itself, Celgene signed a deal with Juno Therapeutics ($JUNO) this summer through which it will pay $1 billion for a 10% stake in the biotech in exchange for a role in the future of CAR-T therapies, modified T cells designed to home in on tumors.
The read-through in each of Celgene's pipeline-minded deals is that the company expects to be a leader in each of its home territories and doesn't mind paying up to close the gap. With each passing investor presentation, the slide illustrating Celgene's many relationships grows more and more nebulous, but the company has to this point proven adept at keeping all those plates spinning.
And, with the Juno deal spelling a big bet in uncharted waters of oncology, Daniel and his team have their work cut out for them, tasked with following through on a polarizing gambit that could alter Celgene's long-term fate.
- here's the proxy
Special Report: Science pays: 2013's 10 best-compensated R&D chiefs in biopharma - Thomas Daniel
With early data looming, Celgene grabs rights to Agios' leukemia drug
Celgene shells out $710M for a PhIII Crohn's drug with billions on the line
Celgene doubles down on Forma with a $600M discovery deal tied to a buyout option
Celgene wins FDA approval for its blockbuster arthritis contender apremilast