Roche increases stake in Chugai
pharmafile | May 30, 2008 | News story | Sales and Marketing |
Roche is strengthening its hold over Japanese drug firm Chugai, increasing its stake in the company from 50.1% to 59.9%.
The move underlines the importance of the alliance and the Japanese market – the world's second largest after the US – to the Swiss firm.
Roche's chairman Franz Humer said: "We intend to increase our stake because we believe in both the long-term potential of the Japanese market and in the strategic importance of this successful partnership.
"Since our partnership started more than five years ago, our relationship has intensified in all areas to the benefit of both companies."
The alliance between Roche and the 344.8 billion yen (£1.6 billion)-turnover Chugai was signed in October 2002. It gives Chugai – which merged with Nippon Roche – first refusal on the development and marketing in Japan of all Roche compounds, while Roche has first refusal on Chugai's compounds in markets outside Japan, excluding South Korea.
The companies have also signed research cooperation agreements for biotechnology-based drug discovery and research into small molecular synthetic drugs.
Actemra, the first Chugai brand that Roche is developing worldwide, was filed with US and European regulators last November and gained marketing approval in Japan for the treatment of rheumatoid arthritis earlier this year.
Meanwhile R7201 (CSG452), one of three early-stage compounds that Roche licensed from Chugai in 2007, has started phase I clinical development for type 2 diabetes (the other two are potential cancer treatments).
For its part Chugai has launched Roche's Avastin, Copegus in combination with Pegasys and Tarceva, as well as line extensions for Xeloda and Herceptin, over the last five years.
