Roche restructuring will affect 170 jobs in Europe, U.S.

Roche ($RHHBY) today said that its applied science business will be dissolved and its portfolio of products integrated within Roche's other diagnostics business areas--a move that will affect 110 positions in Penzberg, Germany, and 60 positions in Branford, CT. In a company statement, Roche said market factors like price pressures and funding cuts in life science research contributed to the decision, and the restructuring will "streamline decision-making and enhance technology flow from research use to the clinical setting." The Swiss drug giant has also ended its partnership with IBM to develop a nanopore-based sequencing platform, citing high technical risks involved. Item | Release