Pfizer names insider Chris Boshoff as R&D chief
7:56 am Wednesday, November 20th, 2024
(Reuters) -Pfizer said on Wednesday it has named company veteran Chris Boshoff, who led the drugmaker’s cancer research and marketing for more than a year, as its chief of research and development.
The appointment comes at a time when Pfizer is facing pressure from activist investor Starboard, which has criticized its management for overspending on big acquisitions and failing to produce profitable new drugs from those deals or its internal research and development.
Boshoff will take on the role as chief scientific officer starting Jan. 1 and oversee all functions of Research & Development across all therapeutic areas.
The company’s former Chief Scientific Officer Mikael Dolsten, a key figure behind the development of Pfizer’s COVID-19 vaccine, stepped down from the role earlier this year after a more than 15-year career at the drugmaker.
The New York-based drugmaker has struggled with a sharp fall in sales of its COVID vaccine and antiviral Paxlovid, prompting it to launch a cost-cutting program and focus on deals to bolster its business.
(Reporting by Sriparna Roy in Bengaluru; Editing by Shinjini Ganguli)
