Leonard Schleifer
Leonard S. Schleifer | |
|---|---|
| Born | Template:Birth year and age Queens, New York, U.S. |
| Occupation(s) | Entrepreneur, CEO |
| Known for | Co-founder and chief executive officer of Regeneron Pharmaceuticals |
Leonard S. Schleifer (born 1953) is an American entrepreneur, recognized as the co-founder and chief executive officer of the biotechnology firm Regeneron Pharmaceuticals.
Early life and education
Schleifer was born in Queens, New York to parents Florence and Charles Baker Schleifer; his father worked as a sweater manufacturer and served as a codebreaker during World War II. He obtained a Bachelor of Science degree from Cornell University and completed an MD-PhD program at the University of Virginia, where he studied under future Nobel Prize winner Alfred G. Gilman. His medical training included a neurology residency at New York Hospital, followed by a junior faculty position.
Career
Motivated by the pioneering developments at Genentech, Schleifer aimed to enter the biotechnology sector with a focus on neurological disorders. Opting against an academic career, he raised $1 million in initial funding from venture capitalist George Sing at Merrill Lynch and teamed up with scientist George Yancopoulos to establish Regeneron Pharmaceuticals in 1988. Their initial projects targeted conditions such as Lou Gehrig’s disease and obesity but did not yield successful treatments. Subsequently, they appointed former Merck & Co. CEO Roy Vagelos as chairman, who redirected the company’s approach to emphasize investment exclusively in drugs with thoroughly understood biological mechanisms and prioritized clinical trials to confirm laboratory findings translated into effective therapies.
Eylea
Under Schleifer’s leadership as CEO, Regeneron gained approval for and expanded sales of high-cost medications. In 2011, the company’s breakthrough product, Eylea, received approval for treating age-related macular degeneration by inhibiting abnormal blood vessel leakage in the eye to prevent vision deterioration. Initially licensed to Aventis (later acquired by Sanofi), which showed limited enthusiasm, Sanofi subsequently paid Regeneron $50 million to reacquire the rights. Eylea quickly became a blockbuster drug, generating $838 million in its first full year and increasing 55% to $1.3 billion in 2013, propelling Schleifer into billionaire status. By 2014, Eylea's sales had climbed to $1.735 billion.
In 2014, Schleifer’s total compensation amounted to $41.97 million. According to Equilar and The New York Times data, he ranked fifteenth among the highest-paid CEOs of major publicly traded companies and was the highest-paid executive within the biopharmaceutical industry.
COVID-19 drugs
Schleifer is spearheading Regeneron's efforts to develop treatments for COVID-19, including a Phase 2/3 clinical trial launched in March 2020 in collaboration with Sanofi for the antibody therapy Kevzara™, targeting hospitalized patients. Additionally, Regeneron is advancing an innovative multi-antibody cocktail designed both to prevent and treat infections caused by SARS-CoV-2.
The company’s rapid provision of its experimental COVID-19 treatment to former President Donald Trump and his administration led to ethical debates and public scrutiny regarding preferential access.
Personal life
He is married to Harriet (née Partel) Schleifer; together they have two sons, Adam and David. Harriet earned her undergraduate degree from Cornell University, holds two graduate degrees in education from the University of Virginia, and obtained a J.D. from St. John's University School of Law. She serves on the Board of Governors for the American Jewish Committee and acts as president of her synagogue.
Schleifer has maintained a relationship with U.S. President Donald Trump over several years through membership at Trump’s golf club located in Westchester County, New York.
His son Adam ran as a candidate in the 2020 Democratic Primary for New York's 17th congressional district.