Chugai to sell C&C Research Laboratories stake to JW Pharmaceutical
Category: #health  By Mateen Dalal  Date: 2019-11-29
  • share
  • Twitter
  • Facebook
  • LinkedIn

Chugai to sell C&C Research Laboratories stake to JW Pharmaceutical

Japan’s research-based pharma company, Chugai Pharmaceutical Co., Ltd. has recently made it to headlines when it agreed to change the equity structure of C&C Research Laboratories (C&C), a Korean joint venture which it formed with JW Pharmaceutical Corp.

According to reliable sources, Chugai would sell its C&C’s share to JWP by the end of this year. This would make C&C a fully owned subsidiary of JWP and would allow it to continue its research in drug discovery with independent management.

Reportedly, the move comes after both the firms agree that C&C has flourished to advance its drug candidates such as gout treatment and atopic dermatitis, and is quite capable of organizing its research programs as an independent entity. Both Chugai and JWP will maintain cordial partnerships and favorably collaborate on C&C’s latest drug candidates.

Speaking on the move, Tatsuro Kosaka, President and CEO, Chugai, said that C&C has developed numerous drug candidates which have entered the clinical study stage. The company has also attained the initial goal of creating a novel drug discovery base with superior technological abilities in Korea.

Kosaka added that Chugai values JWP’s partnership and is looking forward to seeing several ground-breaking innovations from C&C in the forthcoming years.

As per Young sub Shin, CEO, JWP, C&C has developed synergy by integrating Korea’s human infrastructure with Chugai’s knowledge on latest drug development. The company is thankful for Chugai’s continuous support ever since its inception and will work hard on growing C&C as an international R&D venture.

Prior to this news, Chugai had revealed that its “Annual Report 2018” had bagged an award in the 7th WICI Japan Award for Excellence in Integrated Reporting. Reportedly, this is the first award that the company has received from WICI Japan, which was for “the Prize for Excellence in Integrated Reporting”.

Sources cite that Chugai’s annual report was acclaimed as an outstanding example of integrated reporting with a superior level of thoroughness that grants an insightful view of the firm’s future.

Source Credit: https://www.chugai-pharm.co.jp/english/news/detail/20191127160000_672.html

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

PayPal buys Happy Returns to strengthen reverse logistics system
PayPal buys Happy Returns to strengthen reverse logistics system
By Mateen Dalal

U.S. based digital payments platform, PayPal, an online payment system entity has announced the purchase of Happy Returns- a returns solution firm that provides online buyers access to simplified ways to return unwanted merchandise to retailers; elim...

YOP officially unveils YOP app to ease access to DeFi for the masses
YOP officially unveils YOP app to ease access to DeFi for the masses
By Mateen Dalal

Yield Optimization Platform and Protocol (YOP) recently declared its official launch of YOP application; the first all-in-one mobile app which makes it quite easier for everyone to access DeFi. The V0 version of the app is now available for early acc...

Singapore to create second national supercomputer with more on roadmap
Singapore to create second national supercomputer with more on roadmap
By Mateen Dalal

Following its success of the first supercomputer system, Singapore is set to build its upcoming second supercomputer system in an attempt to strengthen the local research community, offering 8X more computing capacity than its previous model. The sy...