Pfizer Restructures R&D Leadership with New Head Focused on Oncology

Intelligent Finance APP learned that Pfizer (PFE.US), the American pharmaceutical giant, announced on Thursday local time the administrative leadership changes in its R&D department. Executive Vice President and Chief Development Officer William Pao will leave the company to pursue other opportunities. Chris Boshoff will join the management of this pharmaceutical giant as Executive Vice President and Chief Oncology Research and Development Officer.

It is reported that the newly joined Chris Boshoff will be responsible for Pfizer's entire oncology product line and report directly to Pfizer CEO Albert Bourla. After the reorganization, the oncology division will become an independent business unit.

In addition, Mikael Dolsten, Pfizer's Chief Scientific Officer and President of Global Research, Development and Medical, will have his responsibilities expanded to lead all non-oncology therapeutic areas, serving as the Chief Scientific Officer and President of R&D operations in this field.

Recent Developments Highlight Pfizer's Ambitious Expansion into Oncology: $43B Seagen (SGEN.US) Acquisition Faces In-Depth FTC Antitrust Review

Pfizer announced in March that it would acquire Seagen, a leader in developing a type of drug called antibody-drug conjugates, which use antibodies to deliver high concentrations of drugs directly to tumor sites to reduce side effects and enhance efficacy. Pfizer stated that if the deal is successful, Seagen’s portfolio would double the company’s pipeline of early-stage cancer therapies.