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Swiss drugmaker Roche Holding AG plans to sell its 800-employee drug manufacturing plant in Vacaville, California, or it will shut the factory by 2029, according to e-mailed letters to workers seen by Reuters on Wednesday.

Switzerland’s Roche said first-quarter sales dropped 7% on falling demand for its COVID-19 therapies and tests, less steep than analysts had expected thanks to strong revenue growth from a new eye drug.

After 14 years at the top, Roche Chief Executive Officer Severin Schwan will step down from his role at the helm of the Swiss pharma giant next year. He will become the new chairman of the company’s board of directors upon the retirement of current chair Christoph Franz.