Biotech firms Genentech, Sanofi laying off hundreds at South San Francisco locations [CBS News]
Sanofi - American Depositary Shares (SNY)
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Source: CBS News
The San Francisco Business Times reported Genentech's parent company Roche would trim 3% of jobs across several departments, numbering 436 employees. The San Francisco Chronicle reported the cuts, expected to begin June 5 would come from Genentech's headquarters and commercial production facility at 1 DNA Way in South San Francisco as part of a plan to close the site. The company will maintain clinical supply production and research and development facilities at its sprawling South San Franciso campus. Earlier this year, Genentech's Vacaville manufacturing facility was purchased by Swiss firm Lonza. The moves are part of the evolving landscape of biotech focusing on individualized medicines for smaller patient populations and moving large-scale commercial manufacturing to other facilities. "We regularly evaluate our operations to ensure we remain well-positioned to meet the needs of patients today while continuing to deliver innovative new medicines in the future," said the com
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- 2/12/24 - TheStreet
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