Roche Cuts Pipeline After Research Setbacks and Sales Drop (2)

Roche Holding AG cut a fifth of its pipeline of experimental drugs in recent quarters as its new chief executive tries to revive growth after a series of research setbacks.

Trimmed so far this year were a trio of cancer projects and an experimental psychiatric compound, Roche said on Wednesday as it reported falling sales for the first quarter. The stock slumped in Zurich trading.

Thomas Schinecker

Photographer: Pascal Mora/Bloomberg

The Swiss drugmaker is halting projects that aren’t innovative enough and plans to fill the gaps with acquisitions, according to Chief Executive Officer Thomas Schinecker. Some trimming is still taking place, and by ...