Legendry industry vet Fred Hassan joins Saghmos as chairman

Fred Hassan, an industry veteran behind some of the biggest pharma M&A deals in the past two decades, has been named as chairman of Saghmos Therapeutics, a privately held US biotech start-up developing the cardiorenal metabolic modulator ST-62516 (trimetazidine).

In his distinguished career, spanning four decades, Mr Hassan has served as chief executive and/or chairman or board member of global pharmaceutical companies, leading investment firms, and pharmaceutical industry organizations.

Notably, Mr Hassan is the former chairman and CEO of Schering-Plough before its acquisition by Merck & Co (NYSE: MRK) for $41 billion. Previously, he was chairman and CEO of Pharmacia before its $53 billion acquisition by Pfizer. Prior to that, Mr Hassan was executive vice president of Wyeth, which was also acquired by Pfizer for $68 billion. He also headed the US pharmaceuticals business at Sandoz Pharmaceuticals. Other leadership roles include chairmanship of the Pharmaceutical Research and Manufacturers of America (PhRMA) and the International Federation of Pharmaceutical Manufacturers Associations (IFPMA).