Swiss drugmaker Roche Holding AG (ROG.VX) plans to reduce headcount at its production sites by 780 positions over the next two to three years, Chief Financial Officer Erich Hunziker said Thursday, and warned that the pharmaceutical industry won't be immune to the effects of a worsening economic environment.

In a summary of a presentation to investors, Hunziker said this will build on the restructuring of production sites in a program running from 2007 to 2009, which resulted in a 1,152 headcount reduction.

The reduction was the result of various measures taken, including the sale and closure of factories. The overall number also included the addition of new positions as part of a strategic buildup.

The new program will run from 2009 to 2011.

The summary, in which Hunziker also reiterated the company's financial targets for 2008, was posted on Roche's Web site.

Hunziker said he was confident that Roche is well positioned to deal with the worsening economic environment.

Even in an economic downturn, demand for healthcare will increase, but funding will become more challenging, meaning even the pharmaceutical industry will feel the impact of deteriorating economic growth in 2009 and beyond, he said.

"Funds available for healthcare are and will be limited," Hunziker said.

He was confident, however, that Roche will be able to weather the upcoming storm, because the Swiss drugmaker has fewer drugs facing the loss of patent protection than rivals and because several of its key products have major growth opportunities outside the U.S. market.

Hunziker also cited strong customer support organizations in mature and emerging markets as a reason for why Roche was in a good position in the current difficult economic environment.

Company Web Site: www.roche.com

-By Anita Greil, Dow Jones Newswires; +41 43 443 8044; anita.greil@dowjones.com

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