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.