Roche Cuts 165 Jobs in New Jersey, Scales Back COVID-19 Portfolio

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1. Roche has cut 165 jobs at its New Jersey diagnostic operations center to scale back COVID-19 product development.

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2. The layoffs will go into effect on July 25.

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3. Roche's COVID-19 portfolio includes SARS-CoV-2 antibody and antigen tests, and SARS-CoV-2 and influenza combination antigen tests.

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4. The decision to scale back on its COVID-19 portfolio coincides with the FDA recall of more than 500,000 at-home tests.

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5. Roche's Johnny Smith stated that these layoffs are not part of a larger initiative to reduce staff in other locations.

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6. Other biopharma companies are also shifting their focus from COVID-19-related products.

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7. Novavax announced plans to cut its global workforce by approximately 25% to focus on its COVID-19 vaccine.

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8. The WHO ended its global emergency status for COVID-19 citing a sharp decline in COVID-19-related deaths.

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9. The decision to scale back on its COVID-19 portfolio comes at a time when other biopharma companies are also shifting their focus.

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10. Roche expects that the number of employees across Roche Diagnostics globally will remain broadly stable.

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