(Reuters) – Pfizer (NYSE:PFE) said on Wednesday it has named company veteran and oncology head Chris Boshoff as its chief of research and development.
The appointment comes at a time when Pfizer is facing criticism from activist investor Starboard for overspending on big acquisitions and failing to produce profitable new drugs from those deals or its internal research and development.
The New York-based drugmaker, under CEO Albert Bourla, poured money into new deals to bolster its business, which has been struggling with a sharp fall in sales of its COVID vaccine and antiviral Paxlovid from the pandemic highs.
Pfizer, which is now looking to strengthen its focus on cancer drugs, said Boshoff will take on the role of chief scientific officer starting Jan. 1 and oversee all functions of research & development across all therapeutic areas.
Most recently Pfizer’s chief oncology officer, Boshoff, also served as chief development officer for oncology and rare diseases, and as head of development in Japan across all therapeutic areas at Pfizer.
He has been with Pfizer for more than 11 years and has overseen the approval of 24 innovative medicines and biosimilars in more than 30 conditions.
Boshoff will replace Mikael Dolsten, a key figure behind the development of Pfizer’s COVID-19 vaccine, who stepped down from the role earlier this year after a more than 15-year career at the drugmaker.
Roger Dansey, who joined Pfizer through the 2023 $43-billion Seagen acquisition, will serve as the interim chief oncology officer, the company said.
The drugmaker added Johanna Bendell, who will join the company from Roche in 2025, will take on the role as oncology chief development officer.