ZURICH (Reuters) – Swiss pharmaceutical company Roche is not planning job cuts and its business is healthy, CEO Thomas Schinecker was quoted as saying by a Swiss newspaper on Sunday.
Roche's share price has fallen well below the peaks it hit in April 2022 and the CEO was asked about the company's staffing plans in the context of the recent difficulties in its drug development to treat cancer, among other diseases.
“The number of employees is steady to increase a bit,” Schinecker told NZZ am Sonntag in an interview when asked if the company was planning layoffs.
“I can say for sure that we have a very healthy business. And we don't have a growth problem either,” he said, while noting that Roche's budget for research and development is stable and not growing.
Asked when Roche's proposed anti-obesity drug would hit the market, Schinecker said it could be around 2029 or sooner.
Addressing the wider outlook for next year, particularly in light of the recent struggles of the German economy, Roche's CEO said Europe still faces challenges.
“There is some economic growth in the United States, but things are more difficult in China at the moment,” he said. “And in Europe it will take some time before we get out of this.”
(Writing by Dave Graham; Editing by David Holmes)