Robert Duggan is one of the richest people of America. He was the CEO of Pharmacyclics from 2008 to 2015. Earlier, he had been the CEO of surgical systems maker Computer Motion from 1997 to 2003.
Robert received $3.5 billion from the sale of Pharmacyclics to AbbVie. Robert was the CEO and Chairman of Pharmacyclics from 2008 to 2015. Yet, he did not take any compensation from the Company. As of February 2017, Duggan owned 15.4% stake in the pharmaceutical Company, Pulse Biosciences Inc.
Personal Life of Robert
Robert W. “Bob” Duggan was born and brought up in California.
Early Life and Education
He attended the University of California, Santa Barbara for four years. There he studied with the class of 1966 and majored in economics. He completed his studies at Santa Barbara. Thereafter, he continued studying business management at UCLA from 1966 until 1968. Robert’s first career was in Sunset Designs Company that made children’s embroidery sets called Jiffy Stichery. These kits were the first type and had well written instructions in every set. Robert’s aim was to sell them with colours.
Robert sold to over 7,000 retail stores. Thereafter, Robert invested in several tech Companies, important robotic surgery Company and cookie bakery. Even though Robert was clueless about running a biotech firm, he invested in Pharmacyclics (2004). Robert had lost a son to brain cancer. Hence, he was determined to succeed in running the industry. After four years the Pharmacyclics Company’s board resigned, Robert became the CEO.
By 2013, Robert was a billionaire owing to the special Imbruvica drug made by the Company. This successful, amazing Imbruvica drug works wonders for the potent treatment of chronic lymphocytic leukaemia. In June 2000, Robert was awarded the French Republic Legion of Honour by former French President Jacques Chirac. In 1985, he got the United States Congressman’s Medal of Merit. This was awarded by Texas Congressman and former presidential candidate, Ron Paul, M.D.
Family of Robert
Patricia, a member of Alma Mater, attended the University of California at Santa Barbara. Robert and Patricia met while they were students and married later. The couple have donated to the UC Santa Barbara Foundation. They supported athletic scholarships, and supported the creation of a Tibetan. Also, the family funded a dedicated room with 5,000 Buddhist sutras at the UCSB library. Patricia chairs in the Organic Chemistry. Both Robert and his wife have foundations and they believe in donating for other’s welfare.
Son of Robert
Demian D Duggan was the son of Patricia and Robert Duggan. He lived from 8th January 1971 to 26th January 1997. After their son passed away fighting brain cancer, Robert Duggan invested in cancer drug maker Pharmacyclics. Robert and his team successfully made Imbruvica drug used for treating leukaemia. Robert in the mid 1990s had formed Metropolis Media for assisting communist countries to transit money. He encouraged all over Croatia, Slovenia, Serbia, Bosnia, and Macedonia.
Robert served as the Chairman of the board. He invested 100% of the financial needs that was total of $3 million. His son, Demian Duggan served as CEO. Meanwhile, his wife Patricia (Trish Duggan) served as an Administrative Assistant. This family run enterprise, Metropolis Media was eventually sold to Capital Research for over $45 million.
Robert Duggan is net worth of $2.7 Billion. He sold biotech firm Pharmacyclics to AbbVie in May 2015 for $21 billion. His pre-tax payout was $3.5 billion in cash and stock. Since then, he has sold majority of his shares. He has invested in tech and healthcare Companies. Though Robert was unaware of running a biotech Company yet he his team made Imbruvica. This drug discovered in 2013 is used for treating chronic lymphocytic leukaemia.