Swiss Drugmaker Dissolves Applied Science Business, Ends IBM Partnership

Bloomberg reported that Roche Holding AG dissolved its Applied Science unit due to funding cuts and pricing woes, and said it has ended its alliance with IBM to create genome sequencing.

As quoted in the news article:

The Swiss drugmaker said its polymerase chain reaction technology and nucleic acid product lines business will become part of its Molecular Diagnostics unit. The custom biotechnology portfolio will join the Professional Diagnostics business, while the company will create a unit to focus solely on sequencing, the Basel-based drugmaker said in a statement today.

Click here to read the full Bloomberg report.