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Good morning, everyone, and welcome to another working week. We hope the weekend respite was refreshing and invigorating, because that predictable routine of online calls, meetings, and deadlines has, of course, returned. But you know the drill — the world keeps spinning, so find a way to remain on board. We do this by quaffing cups of stimulation and our choice today is the ever-so-sweet glazed doughnuts. Yes, this is a real flavor. So time to get cracking. Here is the latest laundry list of interesting items to help you on your own journey. We hope you have a meaningful and productive day. And please do keep in touch. Even in this day and age, postcards and telegrams are useful. …

When it comes to executive compensation in the biotech and pharma sectors, it pays to be the chief executive officer at Regeneron Pharmaceuticals, STAT tells us. Len Schleifer, took home $453 million in 2021, more than any other executive in the sector, which represents just less than the entire combined compensation — $478 million — of the next nine highest-paid chief executive officers. In addition to salary, cash-based bonuses, and other perks, total compensation was calculated by using the “actual realized gains” of stock options and awards, instead of the estimated fair value of those options and awards that is more commonly reported.


A roughly $40 billion deal in which Merck will acquire Seagen is unlikely to be finalized ahead of the July 28 earnings report Merck will issue later this month, though the talks remain on track, according to The Wall Street Journal. Earlier this month, Merck aimed to agree on a deal within a few weeks, a plan that has since been delayed. The change is due partly to a need to wait for data expected soon from a study evaluating a Seagen treatment and also possibly the outcome of a royalties-payments case Seagen is pursuing that is also expected soon. Both could have an impact on Seagen’s valuation. There is still no guarantee the companies will reach agreement on a takeover deal.

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