Friday, September 05, 2008

Roche to cut loose its old Syntex connection

Swiss drug maker Roche is planning to shutter its 1,000-worker Palo Alto research lab as it pursues its takeover bid for Genentech.

A Roche Palo Alto spokeswoman said the 1-million-square-foot facility's inflammation research unit will move to Nutley, N.J., Roche's current U.S. headquarters.

The company expects to move its Palo Alto virology operations to Genentech's nearby South San Francisco campus, though the unit would remain separate from the biotechnology giant.

Spokeswoman Jacqueline Wallach said the timing of the closure, which would force some job losses, depends on a deal with Genentech.

Source

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