ZURICH--The chief executive of Swiss pharmaceuticals company Roche Holding AG (ROG.VX) said it has ruled out another major cost-savings program and further talks with U.S. gene testing company Illumina Inc.(ILMN) The Basel company has almost completed a reduction of 4,800 positions globally it announced in 2010 and wasn't planning any more cutbacks of that scale, Severin Schwan tells Swiss newspaper Der Sonntag in an interview published Sunday. "According to my estimates today, I will have a stable workforce in Europe," he said. "This is also true for Switzerland." Jobs would be created above all outside Europe, he added, with the biggest expansion in Asia and Latin America. Mr. Schwan also ruled out an higher offer for U.S. gene-testing company Illumina Inc. (ILMN), which Roche failed to buy in April. Roche had said its offer, which valued Illumina at $6.5 billion, was generous and made clear early on it wasn't prepared to buy Illumina at any price. "This is off the table," he said. "There are no discussions," adding that Roche was now investing in its own gene-sequencing projects and looking for partner companies to work with. Newspaper web site: www.sonntagonline.ch Write to Zurich Bureau at zurichdjnews@dowjones.com
