IN-CHUGAI/ELI-LILLY
27.9.2018 01:02:06 CEST | Business Wire | Press release
Chugai Pharmaceutical Co., Ltd. (TOKYO: 4519, Chugai) and Eli Lilly and Company (NYSE: LLY, Lilly) today announced they have entered into a license agreement for OWL833, Chugai’s oral non-peptidic GLP-1 receptor agonist. OWL833 is a Phase 1-ready asset that is being studied for the treatment of type 2 diabetes.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180926005486/en/
Under the terms of the agreement, Lilly will receive worldwide development and commercialization rights to OWL833. Chugai will receive an upfront payment of $50 million and is eligible for milestone payments based on achievement of certain predetermined milestones. If the molecule is successfully commercialized, Chugai would also be eligible for royalty payments.
“As a global leader in diabetes care, Lilly is committed to developing the next generation of diabetes therapies,” said Daniel Skovronsky, M.D., Ph.D., Lilly’s Chief Scientific Officer and President of Lilly Research Laboratories. “This exciting new opportunity from Chugai could represent a significant step forward for improving outcomes for people with diabetes.”
“We are very pleased to announce the license agreement of OWL833 with Lilly, a world-leading company in diabetes care,” said Yasushi Ito, M.D., Ph.D., Chugai’s Executive Vice President, Co-head of Project & Lifecycle Management Unit. “We believe OWL833 can be a best-in-class oral non-peptide GLP-1 receptor agonist and that its value will be further enhanced through Lilly’s clinical development to contribute to people around the world who live with diabetes.”
There will be no change to Chugai's consolidated financials forecast for the fiscal year ending December 2018 as a result of this transaction.
This transaction will be reflected in Lilly's reported results and financial guidance according to Generally Accepted Accounting Principles (GAAP). There will be no change to Lilly's 2018 non-GAAP earnings per share guidance as a result of this transaction.
This transaction is subject to potential competition authority clearances and other customary closing conditions.
About Chugai
Chugai Pharmaceutical is one of Japan’s leading research-based pharmaceutical companies with strengths in biotechnology products. Chugai, based in Tokyo, specializes in prescription pharmaceuticals and is listed on the 1st section of the Tokyo Stock Exchange. As an important member of the Roche Group, Chugai is actively involved in R&D activities in Japan and abroad. Specifically, Chugai is working to develop innovative products which may satisfy the unmet medical needs, mainly focusing on the oncology area.
In Japan, Chugai’s research facilities in Gotemba and Kamakura are collaborating to develop new pharmaceuticals and laboratories in Ukima are conducting research for technology development for industrial production. Overseas, Chugai Pharmabody Research based in Singapore is engaged in research focusing on the generation of novel antibody drugs by utilizing Chugai’s proprietary innovative antibody engineering technologies. Chugai Pharma USA and Chugai Pharma Europe are engaged in clinical development activities in the United States and Europe.
The consolidated revenue in 2017 of Chugai totaled 534.2 billion yen and the operating income was 103.2 billion yen (IFRS Core basis).
Additional information is available on the internet at https://www.chugai-pharm.co.jp/english/ .
About Lilly Diabetes
Lilly has been a global leader in diabetes care since 1923, when we introduced the world's first commercial insulin. Today we are building upon this heritage by working to meet the diverse needs of people with diabetes and those who care for them. Through research and collaboration, a broad and growing product portfolio and a continued determination to provide real solutions—from medicines to support programs and more—we strive to make life better for all those affected by diabetes around the world. For more information, visit www.lillydiabetes.com or follow us on Twitter: @LillyDiabetes and on Facebook: LillyDiabetesUS.
About Eli Lilly and Company
Lilly is a global healthcare leader that unites caring with discovery to make life better for people around the world. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. To learn more about Lilly, please visit us at www.lilly.com and www.lilly.com/newsroom/social-channels .
Lilly Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements (as that term is defined in the Private Securities Litigation Reform Act of 1995) about the benefits of Lilly's licensing of Chugai’s investigational medicine, OWL833. It reflects Lilly's current beliefs; however, as with any such undertaking, there are substantial risks and uncertainties in implementing the transaction and in drug development. Among other things, there can be no guarantee that Lilly will realize the expected benefits of the transaction, that the molecule will be approved on the anticipated timeline or at all, or that the potential product will be commercially successful. For further discussion of these and other risks and uncertainties, see Lilly's most recent Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission. Except as required by law, Lilly undertakes no duty to update forward-looking statements to reflect events after the date of this release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180926005486/en/
Contact:
Chugai For Media Media Relations Group, Corporate Communications Dept., Chugai Pharmaceutical Co., Ltd. Tel: +81-3-3273-0881 E-mail: pr@chugai-pharm.co.jp *** For Investors Investor Relations Group, Corporate Communications Dept., Chugai Pharmaceutical Co., Ltd. Tel: +81-3-3273-0554 E-mail: ir@chugai-pharm.co.jp *** Lilly Lilly Media Scott MacGregor Tel: +317-440-4699 E-mail: jsmacgregor@lilly.com *** Lilly investors Kevin Hern Tel: +317-277-1838 E-mail: hern_kevin_r@lilly.com
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
The Spectrum of Global Cinema Unfolds in Jeonju: The 27th JEONJU International Film Festival6.4.2026 15:23:00 CEST | Press release
237 films from 54 countries to be screened under the slogan “Beyond the Frame” The 27th JEONJU International Film Festival (JIFF) is set to run from April 29 to May 8 in Jeonju, featuring 237 movies from 54 countries. Jeonju—the most authentic Korean city and a prominent tourist destination in Asia known for its tradition and cuisine—will host this year’s film festival under the slogan “Beyond the Frame.” This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260406890043/en/ The 27th JEONJU International Film Festival will take place from April 29 to May 8 in Jeonju (Image: JEONJU CITY) Opening the 27th edition will be Kent Jones’s “Late Fame,” while the film “The Longest Night: Namtaeryong” directed by Kim Hyun-ji will close the festival. In addition, a special program honors the late Korean actor Ahn Sung-ki, who passed away last year. Titled “Special Focus: Ahn Sung-ki’s Memorable Films Yet Rarely Seen,” it showcases seven of hi
Andersen Consulting tilføjer Multiplica3.4.2026 13:30:00 CEST | Pressemeddelelse
Andersen Consulting indgår en samarbejdsaftale med Multiplica, et digitalt konsulentfirma, der hjælper organisationer med at designe, bygge og skalere effektfulde digitale oplevelser. Multiplica, der er stiftet i Spanien og desuden har aktiviteter i Latinamerika og USA, fokuserer på brugerundersøgelser og behovsafdækning, research af kundeoplevelser, digital strategi, datamodellering og -analyse, rapportautomatisering og datavisualisering, konverteringsoptimering, produktdesign og design af brugeroplevelser. Virksomheden hjælper organisationer med at fremskynde den digitale transformation ved at opbygge digitale kompetencer, teams og aktiver, der fremmer ekspertise på tværs af digitale produkter, rådgivning og talentudvikling. Multiplica gør det muligt for kunder at prognosticere nye tendenser inden for digitale oplevelser og transformere deres forretninger gennem styrkede digitale kanaler og kundeengagement. "Samarbejdet med Andersen Consulting udgør en spændende mulighed for at udvid
Enry’s Island Unveils “Enry’s Island Adventures”: Venture Capital Becomes a Videogame and Launches the “Strap” Movement on Kickstarter3.4.2026 09:47:00 CEST | Press release
Gaming, finance, and lifestyle merge to democratize the startup ecosystem: Enry’s Island opens 2026 applications for game development studios seeking more than just capital. Enry’s Island SpA (WBAG: EIOS), the world’s first publicly traded Venture Builder, today announced the upcoming Kickstarter launch of Enry’s Island Adventures (EIA), developed by its New York-based portfolio company, Enry’s Island Adventures LLC. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260402548535/en/ The game is designed to make venture capital accessible to new generations, transforming startup creation into an engaging and social gaming experience. After three years of R&D, EIA introduces a "bleisure" model (business + leisure): players learn to launch and manage startups through gameplay that includes real business KPIs, a customizable and evolving personal island, synchronous and asynchronous multiplayer modes, social events, and community-d
SES Announces Results of the Annual General Meeting2.4.2026 16:49:00 CEST | Press release
SES (the “Company”) held the Annual General Meeting (“AGM”) of Shareholders today in Betzdorf, Luxembourg. Following the recommendations made by the Board of Directors of SES, the shareholders have voted in favor of all resolutions, including the Company’s 2025 annual accounts and the proposed annual dividend of EUR 0.50 per A-share (EUR 0.20 per B-share). The total dividend amount comprises the interim dividend of EUR 0.25 per A-share (EUR 0.10 per B-share), which has already been paid to shareholders on October 16, 2025. The final dividend of EUR 0.25 per A-share (EUR 0.10 per B-share) will be paid to shareholders on April 16, 2026. “I would like to sincerely thank our shareholders for their active engagement, visionary support and continued confidence in SES’ strategy,” said Adel Al-Saleh, CEO of SES. “The outcomes of today’s AGM underscore our shared commitment to a bold multi-orbit approach, with Medium Earth Orbit as the strategic backbone of a dynamically evolving global interco
Andersen Consulting styrker sine kompetencer med tilføjelsen af Lukkap2.4.2026 16:31:00 CEST | Pressemeddelelse
Andersen Consulting tilføjer samarbejdspartneren Lukkap, et konsulenthus med fokus på oplevelsesdrevne kompetencer, der er tilpasset kundernes skiftende behov inden for transformation af medarbejdere, kunder og det digitale område. Lukkap, der blev stiftet i 2009 og har hovedsæde i Spanien, leverer integrerede løsninger, der hjælper organisationer med at transformere, hvordan de betjener kunder, engagerer medarbejdere og frigør værdi gennem adfærdsindsigt og dataanalyse. Virksomhedens tværfaglige tilgang spænder over nytænkning af kunderejsen, effektive programmer for medarbejderoplevelser, talent- og ledelsesudvikling, prædiktiv analyse samt omfattende outplacement- og transitionsydelser. Lukkap arbejder på tværs af sektorer — herunder sundhedsvæsen, medicinalindustri, forbrugsgoder, detailhandel, finans og bankvæsen — for at opbygge menneskecentrerede strategier, der skaber målbare forretningsresultater. "Ved at kombinere vores erfaringsdrevne metode med Andersen Consultings globale
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom