Roche CEO Reassures No Job Cuts Despite Challenges: Report

Swiss pharmaceutical giant Roche Holding AG RHHBY reportedly has no plans for job cuts despite facing recent challenges in its drug development pipeline.

CEO Thomas Schinecker, in an interview with NZZ am Sonntag, reassured that worker numbers are constant to slightly increasing, reported Reuters.

He also emphasized healthy business and not having a growth problem either. Meanwhile, the report noted Schinecker saying that the company’s research and development budget remains stable without expansion.

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Schinecker also provided insights into Roche’s pipeline, estimating that the company’s anti-obesity drug could hit the market by 2029 or earlier, per the report.

Addressing the broader economic landscape, Schinecker acknowledged challenges in Europe and China, contrasting them with moderate growth in the U.S.

Price Action: RHHBY shares closed at $35.07 on Friday.