Pfizer is having another executive shakeup. Andy Schmeltz will leave his role as global president of oncology at Pfizer to take on a new role of managing the pharma juggernaut’s investment strategies. Suneet Varma will leave his position as the head of Pfizer’s rare disease division to fill in Schmeltz’s former role.
According to Fierce Pharma, “Pfizer’s oncology portfolio is in need of some rejuvenation lately. Its flagship breast cancer drug Ibrance is under pressure from newer CDK4/6 inhibitors from Novartis and Eli Lilly. And the drug just failed to extend lives in newly diagnosed HR-positive, HER2-negative breast cancer in the final analysis of a long phase 3 trial.”
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(Source: Fierce Pharma, September 2nd, 2022)