Roche Holding plans to close four manufacturing sites and cut 1,200 employee positions in a restructuring program that will cost the drugmaker about $1.6 billion over the next five years.
The Switzerland-based company will shut down a U.S. plant in Florence, South Carolina, as well as manufacturing sites in Clarecastle, Ireland; Leganes, Spain; and Segrate, Italy. The restructuring will begin next year and run through 2021.
As Roche evolves its small molecule portfolio towards specialized drugs produced in lower volumes, the company requires less manufacturing capacity.
Read the Bloomberg release