Roche to invest more than 400 million euros in German site for COVID-19 tests, R&D

ZURICH (Reuters) – Roche Chairman Christoph Franz said on Monday the Swiss drugmaker will invest more than 400 million euros ($437 million) in a German site, including to make its antibody tests to detect who may have been infected with the new coronavirus.

The plan calls for Roche to invest in its biochemical production facility in Penzberg. Moreover, the Basel-based drugmaker will make additional investments in diagnostics research and development, Franz said.

(Reporting by John Miller; Editing by Michael Shields)