CHUGAI ANNOUNCES CO-DEVELOPMENT AND CO-MARKETING AGREEMENT WITH TAISHO PHARMACEUTICAL FOR THE ANTIRESORPTIVE BISPHOSPHONATE R484

Chugai Pharmaceutical Co., Ltd. announced that it has entered into an agreement with Taisho Pharmaceutical Co., Ltd. to co-develop and co-market R484 (generic name: ibandronic acid), a bisphosphonate which Chugai is currently developing in Japan for the treatment of osteoporosis. Under the agreement, Chugai will co-develop the compound with Taisho and co-market it with Taisho Toyama Pharmaceutical Co., Ltd., a subsidiary of Taisho. Chugai will receive an upfront fee and milestone payments from Taisho. JCN Network (http://www.japancorp.net/Article.Asp?Art_ID=13243)