Genentech, Inc.
NEWS
Genentech’s agreement with Earendil Labs came the same day its parent company, Roche, inked a cardiometabolic and renal deal with Atavistik Bio for up to $2 billion.
After committing $2 billion to a new North Carolina facility to boost capacity for its next-gen obesity candidates, Roche’s Genentech is putting down more cash to expand a device fill-finish site in Oregon.
With the latest round, Roche’s Genentech will have racked up nearly 450 layoffs in California over the last year amid ongoing restructuring. At the same time, the biotech is joining forces with Astex Pharmaceuticals in a deal that could surpass $490 million.
The staffing changes will focus resources on work that creates the highest impact for patients, according to Genentech. The number of employees affected is unknown, but longtime veteran Vishva Dixit is out.
By partnering with a UN-backed body, Roche has enabled companies to make the medicine for supply in 129 countries.
Infrastructure and location have helped make Holly Springs a future hub for obesity drug production, with Amgen and Roche planning to manufacture GLP-1 therapies there to compete in the growing market.
Last month, biopharmas let go or projected they would let go of less than 500 people combined, based on BioSpace estimates, down almost 1,000 from January 2025. Still, competition for open jobs remains strong, with employed and unemployed biotech and pharma professionals eyeing their next roles.
Genentech, a member of the Roche Group, plans to open the facility in 2029 to ramp up capacity to make obesity candidates, including the dual GLP-1/GIP receptor agonist CT-388.
The agreement, which BMO Capital Markets called a “mild positive” for Structure, appears to address Roche’s concerns about the composition of investigational weight loss drug CT-996.
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