The Swiss drugmaker Roche has decided to cut costs in response to recent setbacks in the development of major drugs.

Healthcare reforms have also added to the impost on Roche, which may be planning to run a sizeable job reduction process.

A Swiss newspaper has reported that thousands of Roche workers could be made redundant in the cut backs.

Roche has released a statement to say: "In view of mounting pressures to curb healthcare costs, especially in the United States and Europe, together with recent developments in late-stage projects, this initiative aims to adapt cost structures and accelerate productivity improvements."