Roche boosts stake in pharmaceutical research firm

Roche has increased its stake in the pharmaceutical research company Chugai, it has been announced.

The Switzerland-based pharmaceutical giant has paid a premium on the market price in order to boost its shareholding in Chugai from 50.1 per cent to 59.9 per cent.

An offer was made late last month in relation to the shares recently acquired by Roche under the terms of a rights agreement made five years ago when the two drug development businesses first began to collaborate.

Roche describes the Chugai company as being “specialised in prescription pharmaceuticals” and as having a particular strength in researching potentially marketable biotechnology products.

“Chugai is working to develop innovative products with global applications, focusing on the disease areas of oncology, renal disease, and bone and joint,” a statement from the Swiss firm explained.

Roche claims to have played a significant role during the past century in delivering new drugs and healthcare solutions to individual patients in markets around the world.