Business / Corporate

Chugai denies report on Roche's bid for control

Kyodo

Chugai Pharmaceutical Co. is not in talks to become a wholly owned unit of Roche Holdings AG, contrary to a recent report about a $10 billion (¥1.02 trillion) share deal linked to the matter, the Tokyo-based drugmaker said.

“Chugai is in no way in the process of reviewing any plan to become a wholly owned subsidiary of Roche, nor discussing” such a transaction, Chugai said in a statement Saturday.

Bloomberg News reported Friday that the Swiss drugmaker, which holds a 61.5 percent stake in Chugai, is in talks to buy the remaining shares of the Japanese subsidiary, with the deal possibly to be announced in a week, citing people familiar with the negotiation.

“Roche, as usual, is not commenting on market rumors,” Chugai said.

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