Regeneron CEO riding high with $42M salary, but with fewer perks
- Len Schleifer, the CEO of Regeneron, earned roughly $42 million last year, making him one of the highest paid pharma CEOs. However, he is no longer receiving payment of his club dues and other perks.
- In addition to losing reimbursement for his club membership dues, Schleifer is also losing recompense for his automobile expenses and annual membership dues. He also will no longer be receiving money to pay taxes on legal, tax, and financial planning advisers.
- Much of the money used to fuel high salaries at Regeneron are attributable to Eylea (aflibercept) for treatment of wet age-related macular degeneration (AMD). Last year, Eylea has $1.735 billion in sales.
Not only does Regeneron have the benefit of strong Eylea sales, but it is co-partnered with Sanofi on the development of alirocumab, a widely hailed PCSK9 inhibitor for treatment of hypercholesterolemia. Alircoumab is currently being reviewed by the FDA and could be approved this summer.
Schleifer is not the only winner. The head of R&D, George Yancopoulos, earned $81 million in 2012 after successfully developing Eylea, though in 2014, his income was down to $31 million—and his perks were also cut. Regardless, Regeneron's executive team is well rewarded and stands to benefit even more if alirocumab receives approval.