Global pharmaceutical giant Roche has announced that it will invest 800 million Swiss francs (about AUD 926 million at the time of writing) in boosting its biologics manufacturing capacity over the next five years.
Biologics are medical products made from living organisms rather than chemicals.
"Biologic medicines have become an essential part of modern medicine and play an important role in improving the lives of patients,” said Roche’s pharmaceutical division’s chief operating officer in a statement.
“As the world’s largest supplier of biologics, Roche is committed to making the necessary investments to ensure ongoing supply of these medicines at the highest quality standards”
The company claims that the investment will create 500 jobs, with capacity being increased in sites at Penzberg (in German), Basel (Switzerland) and Vacaville and Oceanside (USA).
Reuters reports that the expansion shows Roche having confidence in its future and bucking the trend in the pharmaceutical industry, with recent cuts by companies such as Teva and Merck & Co. (known in Australia as Merck Sharp & Dohme or MSD).