Home » Business » Roche cuts 1,000 U.S. jobs by shutting New Jersey plant

Roche cuts 1,000 U.S. jobs by shutting New Jersey plant

Tue Jun 26, 2012 1:45pm EDT

ZURICH (Reuters) – Roche (ROG.VX) announced an renovate of a investigate activities, including a closure of a U.S. plant, 1,000 pursuit cuts and a exit of a drug investigate chief.

The Swiss drug association pronounced on Tuesday Jean-Jacques Garaud, a conduct of curative research, will leave a association during a finish of this week. He will be transposed by Mike Burgess, conduct of cancer drugs.

Roche didn’t give a reason for a government changes. Last month, a association pronounced it would finish investigate on dalcetrapib, one of several new treatments from drug firms to assistance boost levels of “good” high-density cholesterol (HDL), a pierce that sent a shares neatly lower.

Last September, Garaud pronounced a initial drug, that lifted HDL almost in a Phase II trial, had a intensity to beget annual sales of $10 billion.

Garaud’s secretary pronounced on Tuesday he was travelling and taken for comment.

Roche’s investigate renovate will see a Nutley, NJ-based plant sealed and a activities changed to Germany and Switzerland, an try to clamp down on a drug growth costs as investigate on initial drugs is on a rise.

“The designed converging of a investigate and early growth classification and a refocusing of investigate and growth activities in Switzerland and Germany will giveaway adult resources that we can deposit in these earnest clinical programs while also augmenting a altogether efficiency,” Roche Chief Executive Severin Schwan pronounced in a statement.

The pierce allows Roche to keep a investigate and drug growth costs mostly unchanged, notwithstanding an boost in clinical investigate projects in a final 18 months, Schwan said.

Roche pronounced costs to tighten a Nutley plant will be communicated on Jul 26, when it reports for a initial 6 months of a year. Roche corroborated a 2012 financial opinion in a statement.

The association pronounced it is now seeking a plcae on a U.S. easterly seashore to open a hearing and growth centre, approaching to occupy 240 people. Investment into investigate by San Francisco, CA-based Genentech, a Roche subsidiary, won’t be influenced by a overhaul, Roche said.

(Reporting by Katharina Bart; Editing by Jon Loades-Carter)

Source: Article Source

Filed under Business and tagged , , , , , .

Leave a Reply