JW Pharmaceutical Corporation (KOSE:A001060) agreed to acquire the remaining 50% stake in C&C Research Laboratories from Chugai Pharmaceutical Co., Ltd. (TSE:4519) on November 27, 2019. Before transaction, JW Pharmaceutical Corporation was holding 50% stake in C&C Research Laboratories and after transaction, JW Pharmaceutical Corporation will hold 100% stake in C&C Research Laboratories. C&C will become a wholly owned subsidiary of JWP and continue its drug discovery research with independent management. JWP and Chugai keep maintaining amicable partnerships and Chugai reserves preferential rights to future projects on C&C discoveries. The transaction is expected to complete by December 31, 2019.

JW Pharmaceutical Corporation (KOSE:A001060) completed the acquisition of 50% stake in C&C Research Laboratories from Chugai Pharmaceutical Co., Ltd. (TSE:4519) on December 31, 2019.