Chugai CEO confirms no plan of Roche to gain full control
Chugai Pharmaceutical Co., Ltd. [TYO: 4519] confirmed with its parent company Roche Holding Ltd. [VTX: ROG], which holds about a 60% stake in Chugai at present, that there is no plan of Roche to purchase the entire stake in the Japanese pharmaceutical unit, the Nihon Keizai Shimbun reported.
Chugai Chairman and CEO Osamu Nagayama had a phone conversation with Roche CEO Severin Schwan last month, confirming that Chugai will maintain its listing on the Tokyo Stock Exchange as it is now, the executive said in an interview with the newspaper.
The phone conversation took place after Bloomberg reported on 15 August saying Roche plans to spend about USD 10bn to purchase the remaining stake in the Japan unit to gain the full control. Chugai had denied the report in a statement on 17 August.
Source Nihon Keizai Shimbun