NEW YORK - Pfizer Inc. (NYSE: NYSE:PFE) announced the appointment of Chris Boshoff, M.D., Ph.D., as its new Chief Scientific Officer and President of Research & Development, effective January 1, 2025. Dr. Boshoff, who is currently the Chief Oncology Officer, will be taking over from Dr. Mikael Dolsten following a detailed selection process. This leadership transition is part of Pfizer’s ongoing strategy to enhance its R&D capabilities across various therapeutic areas.
Dr. Boshoff has been with Pfizer for over a decade, contributing to the approval of 24 innovative medicines and biosimilars in more than 30 indications. His previous roles include Chief Development Officer for Oncology and Rare Disease, as well as Head of Development in Japan. Dr. Boshoff's medical and research background includes a stint as the founding Director of the University College London (UCL) Cancer Institute.
In conjunction with Dr. Boshoff’s promotion, Roger Dansey, M.D., will serve as the Interim Chief Oncology Officer from January 1, 2025, and will support the search for a permanent appointee before his retirement. Following the transition, Johanna Bendell, M.D., will join Pfizer as the Chief Development Officer for Oncology. Dr. Bendell is moving from Roche, where she is currently the Global Head of Oncology, Pharma Research and Early Development.
Chairman and CEO of Pfizer, Dr. Albert Bourla, praised Dr. Boshoff’s vision and leadership, emphasizing his role in advancing Pfizer’s mission to deliver breakthrough medicines. Dr. Boshoff expressed his commitment to building on the company’s successes and focusing on the development of impactful treatments for areas with high unmet medical needs.
Pfizer, a global biopharmaceutical company, has a legacy of 175 years in healthcare innovation. The company is known for its commitment to improving patient health and has a diverse pipeline of medicines and vaccines.
The information in this article is based on a press release statement from Pfizer Inc. and does not include any forward-looking statements or speculative content.
In other recent news, Pfizer Inc. is contemplating the sale of its hospital drugs business, Pfizer Hospital, as part of a strategy to divest non-core assets. Goldman Sachs (NYSE:GS) has been engaged to evaluate interest from potential buyers. Meanwhile, Moderna Inc (BMV:MRNA). posted a third-quarter profit driven by robust sales of its COVID-19 vaccine, Spikevax, significantly surpassing analysts' estimates. The company also confirmed organizational changes and reaffirmed its sales expectations for the year. In the political sphere, investors are closely monitoring the potential market impacts of the upcoming U.S. presidential election, with analysts predicting varied responses for equity markets based on the election outcome. Lastly, Pfizer reported strong financial results for the third quarter of 2024, with total revenues reaching $17.7 billion, a 32% operational growth compared to the previous year, leading to the company raising its full-year revenue guidance. These are the latest developments in the business world.
InvestingPro Insights
As Pfizer prepares for this significant leadership transition in its R&D department, investors may find additional context from InvestingPro's real-time data and tips particularly insightful.
Pfizer's financial health remains robust, with a market capitalization of $142.24 billion USD. The company's revenue for the last twelve months as of Q3 2024 stands at $59.38 billion USD, reflecting its substantial market presence. Despite a 14.29% revenue decline over this period, Pfizer demonstrated a strong quarterly revenue growth of 31.2% in Q3 2024, indicating potential recovery and growth.
An InvestingPro Tip highlights that Pfizer "has raised its dividend for 14 consecutive years," underscoring the company's commitment to shareholder returns. This is further supported by the current dividend yield of 6.69%, which is notably high and may be attractive to income-focused investors.
Another relevant InvestingPro Tip notes that Pfizer is a "prominent player in the Pharmaceuticals industry." This aligns well with the article's focus on the company's R&D leadership changes and its ongoing commitment to healthcare innovation.
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