chugai pharmaceutic-unsp adr (CHGCY) Key Developments
Chugai Pharmaceutical Co. Ltd. Presents at 12th Annual BIO Asia International Conference, Mar-24-2015 through Mar-25-2015
Mar 12 15
Chugai Pharmaceutical Co. Ltd. Presents at 12th Annual BIO Asia International Conference, Mar-24-2015 through Mar-25-2015. Venue: Grand Hyatt Hotel, Tokyo, Japan. Presentation Date(s): Mar-24-2015.
Athersys, Inc. and Chugai Pharmaceutical Co., Ltd. Announce Partnership and License Agreement to Develop MultiStem(R) Cell Therapy for Ischemic Stroke in Japan
Mar 2 15
Athersys, Inc. and Chugai Pharmaceutical Co. Ltd. announced a partnership and license agreement to exclusively develop and commercialize MultiStem cell therapy for ischemic stroke in Japan. Ischemic stroke represents a priority disease area in Japan, given the high healthcare burden of the condition and the expected increase in incidence associated with Japan's aging population. Athersys' proprietary cell therapy product, MultiStem, is currently being evaluated in a Phase 2 clinical study for ischemic stroke in the United States and Europe, and Athersys has begun preparations for clinical development in Japan, including engagement with the Japanese Health Authority. Chugai is a leading research-based pharmaceutical company with strengths in biotechnology products, and brings to the collaboration substantial expertise and experience in late-stage development and commercialization in Japan. As part of the collaboration, Chugai will be responsible for the development and commercialization of MultiStem for ischemic stroke in Japan, and Athersys will have responsibility for product supply. Under the financial terms of the agreement, Athersys will receive an up-front cash payment of $10 million from Chugai and would receive additional payments as the program is further advanced. Athersys is eligible to receive milestone payments from Chugai of up to $45 million upon the successful achievement of certain development and regulatory milestones, and sales milestones of up to 17.5 billion Yen (approximately $150 million based on the current exchange rate). Athersys would also receive from Chugai tiered, double-digit royalties on any net sales, as well as payments for product supplied to Chugai. In Athersys' ongoing Phase 2 clinical study, it is evaluating the administration of MultiStem cell therapy to patients who have suffered an ischemic stroke. Based on preclinical research to date, administration of MultiStem has shown significant benefits through several mechanisms, including reduction of inflammation and immune system modulation in the ischemic area, and the protection and rescue of damaged or injured cells, including neuronal tissue. Athersys is treating patients one to two days after the stroke has occurred, in contrast to thrombolytic tPA treatment, which is limited to the first three to four hours following the stroke. Preclinical studies have demonstrated that administration of a single dose of MultiStem therapy, even one week after a stroke, provides significant and durable improvements relative to controls. Enrollment in Athersys' double-blind, placebo-controlled trial is complete, and interim safety and initial efficacy results following the ninety-day patient data are expected to be announced in April 2015, following analysis and receipt of the unblinded clinical data.
Chugai Pharmaceutical to Invest SGD 476 Million into its Research Institute in Singapore, Chugai Pharmabody Research
Jan 29 15
Chugai Pharmaceutical announced that it will invest SGD 476 million from now until 2021 into its research institute in Singapore, Chugai Pharmabody Research. When CPR first set up its corporate laboratory here in 2012 to develop antibody drugs, it planned to pour about SGD 200 million into antibody research over the subsequent five years. The new grant now comes on top on that. The investment will go towards boosting the company's local employee base and antibody research and development pipeline. In addition, it will be expanding physically too. From occupying the fourth floor at the Synapse building at Biopolis Drive, it will now go on to rent more than half of the seventh floor. Chugai aims to accelerate development of new therapeutic antibodies by novel technologies which are currently being built up, while continuing to work on R&D activities with established antibody engineering technologies.
Chugai Pharmaceutical Co. Ltd. Provides Dividend Guidance for the Second Quarter and Full Year of Fiscal 2015; Announces Unaudited Consolidated Earnings Results for the Year Ended December 31, 2014; Provides Earnings Guidance for the Year Ending December 31, 2015
Jan 28 15
Chugai Pharmaceutical Co. Ltd. provided dividend guidance for the second quarter ending June 30, 2015. The company forecasts a dividend of ¥26.00 per share for the second quarter of fiscal 2015.
For the year ending December 2015, the company forecasts year-end dividend of ¥26.00 per share.
The company announced unaudited consolidated earnings results for the year ended December 31, 2014. For the year, the company reported revenues were JPY 461,109 million against JPY 423,652 million a year ago. Operating profit was JPY 75,859 million against JPY 78,738 million a year ago. Profit before taxes was JPY 76,164 million against JPY 76,944 million a year ago. Net income was JPY 52,077 million or JPY 93.38 diluted per share against JPY 51,886 million or JPY 93.35 diluted per share a year ago. Net income attributable to Chugai shareholders was JPY 50,980 million against JPY 50,895 million a year ago. Profit before taxes was JPY 76,164 million against JPY 76,944 million a year ago. Cash flows from operating activities were JPY 37,034 million against JPY 53,521 million a year ago. Purchase of property, plant and equipment was JPY 16,232 million against JPY 11,287 million a year ago. Purchase of intangible assets was JPY 2,935 million against JPY 3,377 million a year ago.
For the year ending December 31, 2015, the company expects revenues of JPY 486,500 million, core operating profit of JPY 85,000 million and core earnings per share of JPY 104.42.
Chugai Pharmaceutical Co. Ltd., Annual General Meeting, Mar 26, 2015
Jan 28 15
Chugai Pharmaceutical Co. Ltd., Annual General Meeting, Mar 26, 2015. Agenda: To approve the appropriation of surplus; to elect two new directors; and to elect one audit and supervisory board member.