Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), today announced plans to invest more than $285 million for the expansion of its biologics manufacturing facilities in Vacaville and Oceanside, California. “This investment and expansion will result in the addition of more than 250 new jobs at the Vacaville and Oceanside facilities over the next four years, bringing the total number of Genentech manufacturing jobs in California to close to 3,000,” said Ian Clark, Chief Executive Officer of Genentech. The company currently employs approximately 10,000 people in the state.
These investments in Genentech’s biologics manufacturing network will enable the hiring of hundreds of skilled workers, ranging from technicians to scientists and engineers. “California has always had an impressive skilled workforce that has allowed Genentech to hire diverse and talented individuals in various disciplines,” Clark said. “In recent years California has made great strides toward improving the business environment for life sciences innovation and incentivizing manufacturing. We are committed to working with the state to continue this positive progress and make California an even better place to grow the industry.”
Genentech’s United States manufacturing network spans three locations in California – South San Francisco, Vacaville, and Oceanside – and Hillsboro, Oregon, producing medicines intended for the treatment of a wide range of diseases including cancer, rheumatoid arthritis, and asthma. When the expansion is complete, Genentech’s Vacaville facility will not only be the largest producer of biologic medicines for the Roche Group but also the largest biotech manufacturing facility in the world.
About Biologics and Their ManufacturingBiologic medicines are large molecules that are created by biological processes, rather than being chemically synthesized, and are typically administered via injection or intravenously. Roche is a world leader in biologic medicine manufacturing, with long-standing expertise in biotech manufacturing and has the largest biotech production capacity of any company worldwide.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV