Pfizer Appoints Chris Boshoff as New R&D Chief Amid Restructuring Efforts
Pfizer has appointed Chris Boshoff, M.D., Ph.D., as its new Chief Scientific Officer and President of Research & Development, effective January 1, 2025. Dr. Boshoff, who has been with Pfizer for over 11 years, previously led the company’s oncology division, overseeing the approval of 24 medicines and biosimilars.
This leadership change follows a comprehensive four-month search that considered both internal and external candidates. Dr. Boshoff succeeds Mikael Dolsten, M.D., Ph.D., who has been instrumental in Pfizer’s R&D efforts, including the development of the COVID-19 vaccine.
Dr. Boshoff’s appointment comes at a pivotal time for Pfizer, as the company faces investor pressure to deliver profitable new drugs. Activist investor Starboard Value has criticized Pfizer for overspending on acquisitions and underperforming in internal R&D. In response, Pfizer has initiated a cost-cutting program aiming to save $4 billion by the end of 2024.
Under Dr. Boshoff’s leadership, Pfizer’s oncology division became one of the company’s most productive units. He played a key role in Pfizer’s $43 billion acquisition of biotech company Seagen, which specializes in next-generation cancer therapies.
As Pfizer navigates challenges such as declining COVID-19 vaccine sales and increased competition, Dr. Boshoff’s extensive experience in oncology and drug development is expected to drive a more focused R&D strategy. His appointment reflects Pfizer’s commitment to advancing its pipeline and delivering impactful breakthrough medicines with blockbuster potential.
