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
Empire State Building Observation Deck Debuts New Family Bundle Ticket Options13.7.2026 22:30:00 CEST | Press release
Groups of four can save up to 20% on Observation Deck tickets purchased online The Empire State Building Observation Deck (ESBOD), atop the “World’s Most Famous Building,” announced today new ticket bundle options for families of all ages to save on their visit to the famed New York City landmark. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260713003884/en/ Empire State Building Observation Deck Debuts New Family Bundle Ticket Options Groups of four who purchase the new Family Ticket Bundle can save up to 20 percent on tickets to the Empire State Building’s iconic 86th and 102nd Floor Observation Decks, with options for express access and flex admission. The Family Ticket Bundle is available online only. “The Empire State Building Observation Deck is one of the best activities for families in NYC with immersive, educational museum exhibits and Manhattan’s best skyline views,” said Dan Rogoski, observatory general manager.
Kinaxis Inc. to Host Second Quarter 2026 Financial Results Conference Call on August 6, 202613.7.2026 22:05:00 CEST | Press release
Kinaxis® Inc. (TSX:KXS), a global leader in end-to-end supply chain planning and orchestration, today announced that it has scheduled a conference call to discuss its financial results for the second quarter ended June 30, 2026. The call will be hosted on Thursday, August 6, 2026, at 8:30 a.m. Eastern Time by Razat Gaurav, Chief Executive Officer, and Peter Yaraskavitch, Vice President, Financial Planning and Analysis, followed by a question and answer period. The Company will report its financial results for the second quarter after the close of markets on Wednesday, August 5, 2026. CONFERENCE CALL DETAILS DATE: Thursday, August 6, 2026 TIME: 8:30 a.m. Eastern Time WEBCAST: https://events.q4inc.com/attendee/854228135 (available for three months) About Kinaxis Kinaxis is a leader in modern supply chain orchestration, powering complex global supply chains and supporting the people who manage them. Our powerful, AI-infused supply chain orchestration platform, Maestro, combines proprietar
PagerDuty Announces Arnaud Lagarde, Vice President of EMEA13.7.2026 22:05:00 CEST | Press release
PagerDuty, Inc. (NYSE: PD), a leader in AI-first operations management, today announced the appointment of Arnaud Lagarde as vice president of EMEA. Lagarde will lead PagerDuty’s next phase of growth in the EMEA region, bringing the entire incident management lifecycle to customers across EMEA to solve their biggest digital challenges. “We are thrilled to appoint Arnaud as vice president of EMEA, since he brings a wealth of enterprise sales relationships and years of experience growing this region,” said Todd McNabb, chief revenue officer at PagerDuty. “Arnaud brings a specific combination of deep technical expertise and leadership that will be critical for PagerDuty’s customers, partners and employees. He is a great fit for PagerDuty and we look forward to his impact.” Lagarde brings to the role over 20 years of experience spanning companies like Automation Anywhere, CA Technologies and BMC. Over the past two decades, he has worked closely with founders, investors and executive teams
Samos Energy Acquisition Corporation Announces Closing of $230 Million Initial Public Offering13.7.2026 21:42:00 CEST | Press release
Samos Energy Acquisition Corporation (the “Company”) announced today the closing of its initial public offering (“IPO”) of 23,000,000 units, including the full exercise by the underwriters of their overallotment option to purchase an additional 3,000,000 units. The offering was priced at $10.00 per unit, resulting in gross proceeds to the Company of $230,000,000. The units began trading on the New York Stock Exchange (the “NYSE”) under the ticker symbol “SAMO.U” on July 10, 2026. Each unit consists of one Class A ordinary share and one-half of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one of the Company’s Class A ordinary shares at an exercise price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the NYSE under the symbols “SAMO” and “SAMO.WS,” respectively. Of the proceeds received from the consummation of the initial public offerin
Kina, EU-respondenter optimistiske om fremtidsudsigterne for samarbejde: GT survey13.7.2026 20:46:00 CEST | Pressemeddelelse
Kina og EU har haft etablerede diplomatiske forbindelser i mere end et halvt århundrede. Fra etableringen af formelle diplomatiske forbindelser til udviklingen til et omfattende strategisk partnerskab er Kina-EU-forbindelserne blevet et af de mest indflydelsesrige bilaterale forhold i verden i dag. Ud over Kina gennemførte Global Times Institute (GTI) fra den 16. oktober til den 4. november 2025 en spørgeskemaundersøgelse i 20 EU-medlemsstater, herunder Danmark, Sverige, Spanien, Belgien og Tyskland, ved hjælp af 21 sprog som spansk, fransk, tysk og kinesisk. Mere end 16.300 gyldige spørgeskemaer blev indsamlet. Undersøgelsesdataene viser, at et flertal af befolkningen i både Kina og EU er interesserede i hinandens kulturer, har stor tillid til fremtiden for det kinesisk-europæiske økonomiske og handelsmæssige samarbejde, og støtter styrket samarbejde mellem Kina og EU inden for global styring. Høj grad af bevidsthed og vilje til kommunikation Denne undersøgelse viser, at befolkningen
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