Monday, January 16, 1995
The message from Regeneron Pharmaceuticals Inc.'s
appointment of Roy Vagelos as chairman is that the company plans to remain independent.
REGN's board has been looking at strategic alternatives for the Tarrytown, N.Y.,
company since the failure last March of its Phase III trial of ciliary neurotrophic
factor (CNTF) in amyotrophic lateral sclerosis.
"After CNTF didn't work, we decided we
could use the experience of a senior executive in the industry who really knows
about the hard decisions of drug development," said President and CEO Leonard
Schleifer. "The guy who could do that better than anybody was Roy Vagelos."
Unlike most pharmaceutical company CEOs, Vagelos is an M.D. with an R&D