Pfizer, despite pressure from investors to look outside, elevates its cancer chief Chris Boshoff to lead overall R&D.

Pfizer said on Wednesday it has named company veteran and oncology head Chris Boshoff as its chief of research and development, as the drugmaker faces pressure from investors to produce profitable new drugs.

Company veteran Chris Boshoff, who has led Pfizer’s cancer research and marketing for more than a year, will become chief scientific officer starting Jan. 1.

"Dr Boshoff is the ideal leader to propel Pfizer's R&D engine forward and transform it into a world-leading organisation with a more focused strategy, driving the delivery of additional impactful breakthrough medicines with blockbuster potential," said chief executive Albert Bourla.

As for his soon-to-be former role, Boshoff will be succeeded by Dr. Roger Dansey, who will serve as the interim chief oncology officer. He will then hand off the role to Dr. Johanna Bendell, who will join the Pfizer team in 2025.

Chris Boshoff will take on the role of chief scientific officer starting Jan 1 & oversee all functions of research & development across all therapeutic area

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,