Roche Announces Research Job Cuts

Pharmaceutical Job CutsAs reported by the Financial Times, the Basel-based pharmaceutical company Roche announced significant job losses, most notably in research and development.

The job cuts have arisen in response due to recent setbacks on key drugs and rising pressures on prices resulting from healthcare reforms.

Roche is the world’s largest maker of cancer drugs and has had recently had blows to their development programme and invectors are now waiting to see if the FDA will revoke approval for their blockbuster cancer drug Avastin.

In a statement, Roche stated, “In view of mounting pressures to curb healthcare costs — especially in the United States and Europe — together with recent developments in late-stage projects in the Roche pipeline, this initiative aims to adapt cost structures and accelerate productivity improvements group-wide.”

As of yet there are no definite details regarding the size of the cost reductions and number of staff.  Further information will be released later this year and the cuts are scheduled for 2011/2012.

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