Pharma CEO Robert Duggan buys Brickell PH for record $33 million

The billionaire CEO of Summit Pharmaceuticals and his partner/co-CEO paid $33 million for a penthouse in Brickell, setting a price record for condo sales in the city of Miami.

Robert Duggan and Dr. Mahkam Zanganeh have purchased the 11,000-square-foot, five-bedroom, seven-and-a-half-bathroom condo at Echo Brickell, sources said The real deal.

Greg Kiley, chairman and CEO of Ohio-based Velocity, has sold the penthouse at 1451 Brickell Avenue, real estate records show. The contract went down last week.

Compass agents Chad Carroll and Matthew Dugow represented the seller. The buyer was represented by Engel & Völkers agent Stephan Hermida.

The penthouse has six parking spaces, two storage units, an indoor sky pool and 28-foot ceilings, according to the listing.

The sale sets a price record for condo sales in Miami, excluding new development deals in the works. A number of new luxury condo projects in the presales or construction phase could break this record upon completion.

According to Bloomberg, which first revealed the identity of the buyers, Duggan’s fortune is largely thanks to the sharp rise in Summit Therapeutics’ share price this year, which is up nearly 700 percent so far this year. According to Forbes, he is worth about $13.1 billion. Summit is a Miami-based biopharmaceutical company developing therapies to treat cancer.

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Duggan and Zanganeh’s two-story Brickell unit, on floors 56 and 57 of the tower, came on the market about nine months ago. PMG and JDS Development Group completed the tower in 2017.

According to her bio, Zanganeh, co-CEO and president of Summit, was previously COO of Sunnyvale, Calif.-based PharmaCYClics, where she led a team that developed a treatment for a broad range of blood cancers.