Roche R&D restructuring triggers $1.7B charge

Roche ($RHHBY) is taking a $1.7 billion restructuring charge as it shutters its R&D complex in Nutley, NJ. But the Big Pharma company says that the company will be stronger than ever as it forges ahead with T-DM1, its new breast cancer drug widely viewed as a probable blockbuster. Roche's second quarter included a bitter setback on dalcetrapib, viewed as one of its most valuable late-stage assets right up until it was scrapped. But with Genentech delivering important advances on new cancer drugs, Roche clearly believes that it has mapped out a profitable road ahead. Story

 

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