The year's 10 highest-paid development executives pulled in $124.4 million in total compensation, a roughly 35% jump over 2013's top earners. And while each entrant benefited from meeting individual company goals, the whole group benefited from biopharma's macroeconomic moment in the sun, as the value of stock awards skyrocketed alongside the industry index.
With its cystic fibrosis combo drug awaiting a likely approval at the FDA, Vertex is beefing up its pipeline in the field, paying $80 million upfront and promising up to $1.1 billion more in milestones to partner with Parion Sciences on a new class of CF-related drugs.
Vertex CEO Jeff Leiden took home a pretty penny last year, nabbing a $45.8 million pay package and ranking No. 40 among the highest-paid U.S. execs at publicly traded companies. But not everyone is happy with Leiden's hefty paycheck--and shareholders should do something about it, corporate governance adviser Institutional Shareholder Services told Bloomberg.
Bernstein's Geoffrey Porges has run the numbers on what a Gilead takeover of Vertex would look like. And he loves what he sees.
Vertex will start the new year with a group of new eligible patients for cystic fibrosis drug Kalydeco, thanks to a Monday green light from the FDA.
Today, Vertex announced that David Altshuler, the deputy director and chief academic officer of the legendary Broad Institute, will be the Boston biotech's new CSO, taking the place of the pioneering Peter Mueller.
In recent years it's been the big biotechs in the U.S. which have registered approvals for the drugs most likely to succeed on the market. But in reviewing EvaluatePharma's recent picks for top Phase III drugs, it's interesting to see some prominent positions among the Big Pharma crowd. Read the full report >>
The drug-pricing battle continues, but this time, Gilead Sciences' Sovaldi isn't at the center. That dubious honor goes to Vertex Pharmaceuticals' cystic fibrosis treatment Kalydeco. According to a lawsuit filed by three CF patients, Arkansas Medicaid officials are locking them out of Kalydeco treatment.
With all hands on deck at Vertex focused on the development of a crucial combo drug for cystic fibrosis, the Boston-based biotech has outlicensed an influenza drug to J&J in exchange for a $30 million upfront.
Startup Alkeus is being sued by Irish drugmaker Alkermes for trademark infringement. According to the Boston Business Journal, the 25-year-old Alkermes filed the lawsuit on May 27, alleging that the smaller company's name could easily be mistaken for that of the more established developer of central nervous system disorder drugs.