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Roche to trim costs

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Roche to trim costs

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Roche is reviewing its business in order to cut costs.

The Swiss drugmaker said that is in response to recent setbacks in the development of key drugs and because of rising pressures on prices from healthcare reforms.

The group did not provide any details on the size of cost reductions.

A Swiss newspaper has reported that thousands of Roche workers could lose their jobs in the cut backs over the next two years.

“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,” Roche said.