IN-CHUGAI/ELI-LILLY
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
Copeland Advances AI and Digital Strategy with Acquisition of Bueno Analytics21.1.2026 13:00:00 CET | Press release
Acquisition integrates advanced SaaS capabilities to deliver smarter, data‑driven HVAC and cold chain solutions Copeland, a global provider of compression technologies and controls solutions, announced today that it has entered into an agreement to acquire Bueno Analytics (“Bueno”), an Australia-based company specializing in SaaS solutions that leverage embedded AI and machine learning to deliver building analytics, energy management and operational efficiency across commercial buildings and the cold chain. Bueno’s platform is deployed across several thousand customer sites worldwide, providing broad connectivity, full portfolio visibility and critical operational insights. Buildings account for an estimated 40% of global carbon emissions, with commercial buildings and the cold chain representing a significant share of that impact. The integration of Bueno’s platform with Copeland’s deep domain expertise will deliver a powerful suite of capabilities, including predictive maintenance, e
NIRSense, Inc. & Aspen Medical USA (AMUSA): Strengthening Frontline Medicine: U.S.–Developed Tissue Oxygenation Technology Delivered to Ukraine21.1.2026 13:00:00 CET | Press release
Today, NIRSense and Aspen Medical USA (AMUSA) are pleased to announce the donation of 12 portable tissue-ischemia monitoring kits (comprising advanced sensor consoles plus tablets) to the Ministry of Defence of Ukraine (MoD) for deployment in frontline Role-1 and Role-2 casualty care facilities in Ukraine. These investigational prototype systems are provided for use by military medical teams treating extremity-injured personnel (including those who have undergone tourniquet application) to assess and monitor tissue perfusion and oxygenation in real time. Why this matters In the battlefield context, timely recognition of compromised tissue perfusion (particularly in limbs subject to tourniquet use, major soft‐tissue injury or ischemia-reperfusion risk) can make the difference between viable salvage of the limb, avoidance of secondary complications, and optimal patient outcomes. The donated NIRSense kits, which will be administered by the Ukraine MoD under an approved protocol, may provi
Allshares Acquires U.S. Market Leader Stock & Option Solutions, Solidifying Its Position as a Global Leader in Equity Ownership Management21.1.2026 12:00:00 CET | Press release
Allshares, a global provider of equity ownership management software and services, today announced the acquisition of Stock & Option Solutions (“SOS” or the “Company”), a U.S.-based specialist in end-to-end equity compensation and plan administration. Stock & Option Solutions brings a track record of supporting the full life cycle of equity and compensation plan administration. Recognized as one of the Inc. 5000 fastest-growing companies in 2022, the Company has built a strong reputation for supporting organizations across the United States, from early-stage startups to large enterprises. Its platform-agnostic service model enables clients to optimize complex incentive structures across major equity technology systems. This acquisition marks a strategic milestone in Allshares’ expansion, establishing the U.S. as Allshares’ largest and fastest-growing market. By integrating SOS’ deep U.S. expertise, Allshares strengthens its ability to deliver seamless ownership management for clients o
WEF26: ‘Human Capital Is the Key Driver of Economic Competitiveness’21.1.2026 10:33:00 CET | Press release
For economies to remain competitive in the future, they must prioritize investments in human capital, Her Royal Highness Princess Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, told the World Economic Forum (WEF) Annual Meeting 2026. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260120585206/en/ Her Royal Highness Princess Reema Bandar Al-Saud, Ambassador of the Kingdom of Saudi Arabia to the United States of America, speaks on human capital and youth empowerment during the opening Saudi House session at the World Economic Forum Annual Meeting 2026 (Photo: AETOSWire) Speaking on a Saudi House panel, HRH commented: “Human capital today is the key driver if you want a competitive modern economy.” She added: “If you empower people and you give them the space to lead, they will take that drive and they will deliver. And when you place the right people in the right place at the r
BPP Signals Next Era of Growth, Unveiling New Global Parent Brand: Lyceum Education Group21.1.2026 10:03:00 CET | Press release
The creation of the new brand reflects the unique global reach of eleven leading education businesses across the UK, Europe, North America and Australia Today marks the launch of Lyceum Education Group, the new parent brand for 11 leading specialist education businesses across the UK, mainland Europe, Canada and Australia. Lyceum Education Group brings together leading specialist education providers, delivering a diverse portfolio of programmes to benefit learners and businesses globally. From its beginnings as BPP almost 50 years ago, to the creation of the Lyceum Education Group brand today, the move reflects the transition to become a leading, global education group, which will be the second largest post-secondary provider in the UK, and the fourth largest in Europe. Since its acquisition by TDR Capital in 2021, the Group has been acquiring new brands which encompass increased specialisms, diversifying its product ranges and entering new global markets. A clear focus for Lyceum Educ
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