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Roche Said to Have Decided Against Bid for Rest of Chugai

Chugai Pharmaceutical Co. fell the most in three years in Tokyo trading after Roche Holding AG was said to decide against bidding for the almost 40 percent of the Japanese drugmaker that it doesn’t already own.

Chugai dropped 9.2 percent, the biggest decline since March 2011, to 3,325 yen at the close in Tokyo. Roche decided not to bid and instead focus on its $8.3 billion acquisition of InterMune Inc., according to a person familiar with the matter.