LARCHMONT, N.Y., April 8 /PRNewswire/ -- Genetic Engineering News' (GEN)
annual list of Molecular Millionaires includes 72 individuals with doctoral degrees as well as high-profile investors that include Bill Gates, Carl Icahn and former Nixon cabinet member Donald Rumsfeld. The value of the biotechnology/pharmaceutical stock held by GEN's 100 molecular millionaires totals $1.97 billion, slightly less than last year's $2.05 billion.
Dennis B. Gillings, Ph.D., of Quintiles Transnational Corp. (Research Triangle Park, N.C.) is in first place, surpassing William K. Bowes, Jr., of Amgen (Thousand Oaks, Calif.), who ranked #1 last year.
"There is a record number of biotechnology drugs in late-stage clinical trials," says John Sterling, managing editor of Genetic Engineering News. "The value of the stock holdings of our millionaires emphasizes the fact that yesterday's biotech promises are turning into today's products."
There are over 280 biotech products in clinical trials, with 65 already in Phase III.
Molecular millionaires of long standing include Walter Gilbert, Ph.D., (Biogen); William Rutter, Ph.D., (Chiron); David Goldenberg, M.D., ScD., (Immunomedics); Orrie Friedman, Ph.D., (Genome Therapeutics Corp.); and William Haseltine, Ph.D. (Human Genome Sciences). Newcomers include Sheldon Hendler, M.D., Ph.D., (Vyrex Corp.); Richard Selden, M.D., Ph.D., (Transkaryotic Therapies); Sterling Ainsworth, Ph.D., (Napro Biotherapeutics); John Holaday, Ph.D., (EntreMed); and Thomas Fraser, Ph.D., (Diacrin).
1997's molecular millionaires include 25 from California, 10 from
Massachusetts and 6 from Maryland.
SOURCE Genetic Engineering News
NOTE TO EDITORS: Members of the press who wish to receive a copy of this year's listing of Molecular Millionaires should contact Esther Bicovny of Genetic Engineering News, 914-834-3100, or fax, 914-834-3729. |
