Tags: roche | japan | Chugai | Pharmaceutical

Roche Said in Talks to Buy Rest of Japan's Chugai in $10 Billion Deal

Friday, 15 Aug 2014 11:23 AM

Roche Holding AG is in talks to buy the almost 40 percent of Chugai Pharmaceutical Co. that it doesn’t already own to gain full control of its Japanese partner for oncology and arthritis drugs, according to people familiar with the matter.

Roche, the world’s biggest maker of cancer drugs, plans to pay about $10 billion to buy the remaining stake in Tokyo-based Chugai, the people said, asking not to be identified because the plans are private. The deal may be announced as early as next week, though no final decision has been made, one of the people said.

Chugai shares have climbed 43 percent this year to 3,315 yen, valuing the whole company at about $18 billion.

Representatives for Basel, Switzerland-based Roche declined to comment. E-mail and phone messages left with representatives for Chugai after regular business hours weren’t immediately returned.

Roche owned 62 percent of Chugai as of June 30, 2014, according to the Swiss company’s annual report. The drugmakers sell the Avastin, Herceptin and Tarceva tumor treatments and developed the Actemra arthritis medicine together.

Last month, Roche agreed to buy Seragon Pharmaceuticals Inc. for as much as $1.7 billion to gain a new generation of experimental treatments for breast tumors. The company is still seeking “targeted” acquisitions amid a pharmaceutical and biotechnology deals environment in which valuations are high, Chief Executive Officer Severin Schwan said on July 24.

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Roche Holding AG is in talks to buy the almost 40 percent of Chugai Pharmaceutical Co. that it doesn't already own to gain full control of its Japanese partner for oncology and arthritis drugs, according to people familiar with the matter.Roche, the world's biggest maker of...
roche, japan, Chugai, Pharmaceutical
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2014-23-15
Friday, 15 Aug 2014 11:23 AM
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