Pfizer Inc. (NYSE: PFE) has announced the appointment of Andrew Baum, M.D., to serve as Chief Strategy and Innovation Officer and Executive Vice-President. Baum, who will report directly to Pfizer’s Chairman and CEO Dr. Albert Bourla, brings a wealth of financial experience to the role, despite having no prior experience in the pharmaceutical industry. Most recently, Baum was head of global healthcare and managing director of equity research at Citigroup, where he has been since 2011. Prior to his tenure at Citigroup, Baum was responsible for European Pharmaceuticals coverage at Morgan Stanley for 14 years. He began his career as a practicing physician at the Royal National Orthopaedic Hospital in Oxford, UK.
Baum is already familiar to Pfizer’s leadership, having frequently engaged with the company’s executives as an analyst and providing an investor’s perspective during earnings calls. In his new role, Baum will leverage his expertise in portfolio analysis, prioritizing products, business development, strengthening biotech partnerships, and commercial evaluation of Pfizer’s pipeline R&D activities. He will also chair Pfizer’s Portfolio Management Team, overseeing portfolio management and capital deployment across the company’s R&D pipeline.
Baum is set to assume his new role at Pfizer from June 3, 2024. He succeeds Aamir Malik, who transitions into a new role as Chief US Commercial Officer at Pfizer.
Pfizer’s appointment of Baum follows a trend in the industry, similar to Sanofi’s appointment of Houman Ashrafian, formerly of SV Health Investors, to lead its global R&D last year. Ashrafian, who also began his career as a physician at Oxford’s Radcliffe Hospital, has a background in founding several biotech companies.- Flcube.com
