Chugai Pharmaceutical to expand Singapore R&D unit
31-Jan-15, AsiaOne Business
Japan's Chugai Pharmaceutical will invest $476 million over the next seven years to expand its research institute in Singapore.
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Image: Reuters
The investment will make the centre at Biopolis one of the biggest pharmaceutical research and development operations in Singapore.
It will also "significantly boost the company's local employee base and antibody research and development pipeline", said Chugai Pharmaceutical, which is about 60 per cent owned by Swiss drugmaker Roche Holding, the world's biggest maker of cancer drugs.
Chugai, which is strong in cancer and arthritis treatments, reported a net profit of 50.98 billion yen (S$580 million) yesterday for the year ended Dec 31, on revenues of 461.11 billion yen.