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Roche Holding AG (RHHBF.PK) to Shed 170 Jobs in Diagnostics Restructuring


4/23/2013 7:33:13 AM

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Swiss drugmaker Roche Holding AG is cutting 170 jobs in Germany and the United States in a reorganisation of its life sciences business to beat price pressure and research funding cuts. The firm said on Tuesday it would dissolve its Applied Science business area, which makes up about 7 percent of sales in its diagnostics unit, at the end of 2013 and integrate its products into other parts of its diagnostics business. The Basel-based firm also confirmed its outlook for full-year sales growth in line with 2012 when they rose 7 percent, with core earnings rising ahead of revenues. The reorganisation will lead to 110 job cuts at its site in Penzburg, Germany and a loss of a further 60 positions at Bradford, Connecticut in the United States.

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