Chugai denies talks with Roche regarding a takeover

TOKYO Sat Aug 16, 2014 10:26pm EDT

TOKYO Aug 17 (Reuters) - Chugai Pharmaceutical Co Ltd has denied a media report saying Roche Holding AG is in talks to buy the almost 40 percent stake in the Japanese company that it does not already own for about $10 billion.

The Swiss group could announce a deal to take full control of its Japanese partner for oncology and arthritis drugs as early as this coming week, although no final decision has been made, Bloomberg said. (bloom.bg/1yF2JNH)

The Japanese firm, in a news release late on Saturday, said the media report "is not based on any announcement made by Chugai or Roche."

"Chugai is in no way in the process of reviewing any plan to become a wholly-owned subsidiary of Roche, nor discussing with Roche about such a transaction," it said.

A spokeswoman for Roche declined to comment on the report.

(Reporting by Osamu Tsukimori; Editing by Richard Borsuk)

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