Long-term commercial strategy
Pfizer used the investor event to formally introduce its new business division dedicated to cancer research and to lay out a long-term strategy for it through the end of the decade.
That oncology unit hosts a sprawling portfolio of experimental medicines that Pfizer and Seagen discovered or acquired through deals, as well as the treatments both companies have long been selling.
The unit is led by Chris Boshoff, a longtime Pfizer executive who most recently served as the company’s head of cancer research and development.
“As a newly combined organization, our expertise and collective capabilities are now amplified to deliver even more impact for patients than each company could do by itself,” Boshoff said last week to kick off the event.
Boshoff highlighted the scale of Pfizer’s capabilities, noting it has 10 manufacturing sites producing cancer drugs on three continents, while Seagen had just one. He also pointed to Pfizer’s commercial presence in more than 100 countries and a customer-facing commercial team that is triple the size of Seagen’s.
Pfizer did not provide a specific sales projection for its oncology franchise by 2030. But the company said it expects roughly two-thirds of risk-adjusted oncology revenue to come from new drugs and new indications — or treatment uses — for existing products by the end of the decade.