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Pfizer Chief Executive Officer Albert Bourla tapped Aamir Malik to serve as the company’s chief business innovation officer. Malik will succeed John Young, who is retiring after 34 years at the company.
Malik begins his new role on Aug. 30. He will be responsible for overseeing Pfizer’s strategy, business development, portfolio management, pipeline prioritization, and formation of new business ventures. Additionally, he will be responsible for advancement of “innovative access partnerships” with payers and governments around the world. The retiring Young is expected to work with Malik in order to ensure a smooth transition.
Malik most recently served as managing partner at McKinsey & Company. There, he was responsible for the company’s U.S. operations. Prior to that role, Malik helmed the company’s Global Pharmaceuticals & Medical Products practice.
Bourla lauded Malik. He said the incoming CBIO will play an important role on the executive committee as Pfizer enters a new era of innovation, which includes the “pursuit of both cutting-edge science and opportunities.” Bourla said Malik has 25 years of experience developing advanced growth strategies. He also has experiencing guiding mergers and acquisitions, as well as initiating high-impact programs that are designed to not only improve the lives of patients, but also the performance of life sciences companies.
“He is the ideal leader to drive these efforts,” Bourla said of Malik.
Bourla also lauded the retiring Young.
“Let me take this opportunity to thank John for his incredible career at Pfizer and for his exemplary leadership, dedication, and passion for helping patients and advancing our purpose, which has had a huge impact on our business. We wish him all the best in his retirement,” Bourla said in a statement.
The executive transition comes at a time when Pfizer is riding high following the full approval of its COVID-19 vaccine from the U.S. Food and Drug Administration (FDA) and its $2.26 billion acquisition of Trillium Therapeutics. Pfizer snapped up the Toronto-based company for its checkpoint inhibitor candidates, TTI-622 and TTI-621, which block the signal-regulatory protein alpha (SIRP alpha)-CD47 axis. Both drug candidates are expected to serve as checkpoint inhibitors in hematological cancers.
Earlier this year, Pfizer also acquired San Diego-based Amplyx Pharmaceuticals to gain that company’s lead antifungal compound Fosmanogepix (APX001). Amplyx has been assessing Fosmanogepix as a front-line treatment against invasive fungal infections, including the deadly candida auris. Pfizer snapped up Amplyx in order to boost its response capabilities to other infectious diseases.
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