Roche invests $387M in biotech

Like so many other pharmaceutical industry giants, Roche has announced plans to increase its stake in biotech, pledging to invest $430 million Swiss francs ($387 million) in three sites in Switzerland and Germany. Around 280 million francs will be invested in expanding biotech R&D efforts at Roche's Penzberg, Germany site, specifically in the area of oncology. An additional 150 million francs will be invested at Mannheim and Kaiseraugst in expanding modern syringe filling capacities for drugs such as Mircera, Pegasys or Actemra.

"With our biopharmaceuticals heavily in demand, this step will both safeguard and expand production. Investments like this are very much long term in nature and they create hundreds of jobs in and around the company. It is therefore essential that a stable, industry-friendly environment be maintained in the long term," said CEO Franz Humer in a statement. 

- see this release for more

ALSO: Take a look at Roche's pipeline. Report

Suggested Articles

Xcovery's ALK inhibitor shrank tumors in 75% of lung cancer patients, compared to 67% for Pfizer's Xalkori, the first FDA-approved drug of that class.

The FDA accepted the regulatory filing for Biogen's once-failed Alzheimer's drug, aducanumab, with plans to decide its fate by March 7, 2021.

Alexion named a chief diversity officer, while COVID-19 vaccine player has two new members of its C-suite.