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    4519   JP3519400000

CHUGAI PHARMACEUTICAL CO., LTD

(4519)
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Delayed Japan Exchange  -  05/20 02:00:00 am EDT
3536.00 JPY   +0.31%
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Chugai Pharmaceutical Co. - Update on the Development of Oral COVID-19 Drug Candidate AT-527 in Japan

12/17/2021 | 08:27am EDT

TOKYO - Chugai Pharmaceutical Co., Ltd. (TOKYO: 4519) announced that the company will discontinue its development of AT-527, an investigational RNA polymerase inhibitor for COVID-19, in Japan.

On November 16, 2021, it was announced that Roche, a strategic partner of Chugai, and Atea in the U.S., the originator of AT-527, would terminate their partnership for the global joint development of AT-527. Chugai had obtained exclusive development and marketing rights in Japan for AT-527 from Roche in February 2021 and participated in the global phase III study (MORNINGSKY study) from Japan.

In consideration of the decision made by the two companies, Chugai decided to discontinue its efforts to develop AT-527 in Japan. Atea will determine the next steps for the clinical development of AT-527.

'We have decided to no longer pursue the development of AT-527 in Japan, which we started to expand treatment options for COVID-19. The development will be continued by Atea. I'd like to thank everyone who supported us in developing this investigational drug, especially patients and healthcare professionals,' said Chugai's President and CEO, Dr. Osamu Okuda.

Contact:

Media

Chugai Pharmaceutical Co., Ltd.

Media Relations Group

Corporate Communications Dept.

Tomoko Shimizu

Tel: +81-3-3273-0881

E-mail: pr@chugai-pharm.co.jp

Investors

Chugai Pharmaceutical Co., Ltd.

Investor Relations Group

Corporate Communications Dept.

Takayuki Sakurai

Tel: +81-3-3273-0554

E-mail: ir@chugai-pharm.co.jp

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CHUGAI PHARMACEUTICAL CO., LTD 0.31% 3536 Delayed Quote.-5.33%
ROCHE HOLDING AG 0.88% 319.7 Delayed Quote.-15.67%
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Financials
Sales 2022 1 187 B 9 282 M 9 282 M
Net income 2022 343 B 2 679 M 2 679 M
Net cash 2022 604 B 4 723 M 4 723 M
P/E ratio 2022 17,0x
Yield 2022 2,20%
Capitalization 5 815 B 45 478 M 45 478 M
EV / Sales 2022 4,39x
EV / Sales 2023 4,88x
Nbr of Employees 7 664
Free-Float 37,8%
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Number of Analysts 13
Last Close Price 3 536,00 JPY
Average target price 4 677,69 JPY
Spread / Average Target 32,3%
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Managers and Directors
Tatsuro Kosaka Manager-Pharmaceutical Business Strategy Office
Osamu Okuda Manager-Life Cycle Management II
Itagaki Toshiaki CFO, Manager-Information Technology & Accounting
Hisafumi Okabe Senior Executive Officer & Head-Research
Junichi Nezu Executive Officer, GM-Research & Development
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