newsio aggregates and links to original sources. We do not own the original images or content. If you believe content infringes on intellectual property rights, contact us — it will be removed at first notice.
biotech/news//Reuters
Roche will continue its €600 million investment in a new diagnostic production site in Penzberg, Germany.
Roche will proceed with a €600 million diagnostic production site investment in Penzberg, Germany.
KEY POINTS
Roche now plans to carefully review all future investments in Germany following a recent cabinet decision.
The Penzberg project is Roche's largest single investment in Germany and will complete by 2027.
Roche's CEO warns that the cabinet decision increases uncertainty for research, production, and investment in Germany.
The company will continue its €600 million ($692.88 million) investment in a new diagnostic production site in Penzberg, Germany, Roche told Reuters.
Sign up here.
Roche said it would also now have to review its future investments in Germany carefully.
The decision for Roche's investment in Penzberg, its largest single one in Germany, was made several years ago, with construction expected to be completed by 2027.
"The cabinet decision is creating a new degree of uncertainty regarding investments, research, and production decisions in Germany," Daniel Steiners, CEO of Roche Pharma AG, told Reuters.
He added that the government risked causing significant economic damage with minimal benefit for a sustainable healthcare system, and said the parliamentary process now offered a final chance to keep Germany on a reliable path.
($1 = 0.8660 euros)
Reporting by Patricia Weiss, writing by Marleen Kaesebier, editing by Linda Pasquini