Roche moves to acquire further Chugai shares

Global pharmaceutical company Roche has made moves to increase its shares in Japan-based Chugai from an overall 50.1 per cent to 59.9 per cent, it has announced.

It has invited Chugai shareholders to accept its tender offer bid of 1,730 yen (about 8.42 pounds) per share; the price reflects a premium over the value of the shares at May 21st.

The move is founded in Roche’s rights to increase its stake to this percentage at any time following the fifth anniversary of the alliance between the two companies.

Chairman of Roche’s board of directors Franz B Humer said he and his colleagues thinks the Japanese market has “long-term potential” and also believed in the “strategic importance of this successful partnership”.

“Since our partnership started more than five years ago, our relationship has intensified in all areas to the benefit of both companies,” he added.

Chugai, the fifth top-selling pharmaceutical company in Japan, has its UK headquarters in London.