BASEL, Switzerland – In addition to dominating the world’s oncology drug market, Roche is now dominating hometown Basel, Switzerland’s skyline with its new $575 million skyscraper, Reuters reported this morning.
The new 41-story skyscraper, dubbed Building 1, is so tall it can be seen from both neighboring France and Germany. The building, which contains 74,200 square meters of floor space, will be able to house 2,000 employees, Roche said. Construction began on the building in 2011. Approximately 18 months of the early construction phase focused solely on building a solid foundation, Roche said.
Roche planned the building primarily due to the lack of space at its existing facility in Basel. However, some analysts see the building tell a different story – one of defiance to Novartis, Basel’s other major pharmaceutical company, which has been making its own oncology advances.
Michael Nawrath, an analyst at Zuercher Kantonalbank, told Reuters the building was clearly a warning to other companies honing in on Roche’s oncological territory, particularly Novartis, which earlier this year struck a $15 billion deal to acquire GlaxoSmithKline (GSK)’s oncology business.
Novartis is also looking at building its own skyscraper, Reuters said. The company is planning to build three high rises in an effort to revamp its Basel complex. (Ver)
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