Roche set to axe jobs
research, cutting jobs in the US and Japan, and add a sixth research centre in Germany as it integrates Bermuda-based Corange Ltd. into its business.
Roche said it will move most of its cancer research to the new centre in Penzberg, Germany, from Nutley, New Jersey and Kamakura, Japan as it moves to group its research areas by geographic region. It didn't say how many jobs will be cut.
Roche is streamlining operations after waiting nine months for US and European cartel authorities' approval of the $11 billion takeover. Corange includes Boehringer Mannheim GmbH, a German diagnostics company, and will make Roche the world's largest diagnostics company, and push it into sixth position among drugmakers from ninth position now.
"These changes will allow Roche to further strengthen its capability to quickly turn new scientific findings and technologies into innovative medicines,'' Roche said.
Roche has said it expects to save about 1 billion Swiss francs ($685 million) annually from the takeover as it cuts as many as 5,000 jobs worldwide.
Roche received final approval for the Corange takeover last week, and is expected to close the acquisition in the days ahead. It will then make public details on how the purchase will be financed and how it will be reflected in the company's accounts.
The Basel, Switzerland-based drugmaker said its site in Nutley will expand its research in metabolic diseases, while the Kamakura site will focus on fungal infections.
Roche spokesman Peter Wullschleger said the company "will in the future have to look at'' shifts at other research sites.
