Early Life
Robert W. Duggan was born in Oakland, California, in 1944. He grew up in a household where his father was an industrial engineer, and his mother was a nurse. Duggan attended St. Francis High School, where he was the quarterback of the football team.
Rise to Success
Duggan's entrepreneurial journey began in the 1970s with ventures like Paradise Bakery & Café. He later transitioned into the tech sector, becoming CEO of Computer Motion, a robotic surgery company. However, his most significant financial achievement came from his involvement with Pharmacyclics. Duggan invested in Pharmacyclics in 2004 and became CEO in 2008. He directed the development of Imbruvica, a breakthrough cancer drug that became a major revenue driver. In 2015, AbbVie Inc. acquired Pharmacyclics for $21 billion, solidifying Duggan's position as one of the wealthiest figures in biotechnology. He is currently the CEO of Summit Therapeutics.
Key Business Strategies
Duggan's success is attributed to his strategic investments and leadership. He has a knack for identifying promising companies, investing, and providing the leadership to turn them into financial successes. Duggan's ability to recognize the potential in innovative treatments and his willingness to invest heavily in them have been pivotal. His approach involves a combination of encouraging innovation while maintaining disciplined oversight.
Philanthropy
Duggan has been involved in several philanthropic endeavors. He and his ex-wife have contributed to educational and cultural initiatives, including the UC Santa Barbara Athletics Program, College of Engineering, and the Religious Studies Department. He has also donated to the Church of Scientology.
