Chugai Pharmaceutical Co., Ltd. (the Company) announced that the Company has agreed with the Japanese government regarding the antibody cocktail casirivimab and imdevimab (hereafter, the antibody cocktail), which is being investigated as a potential treatment for COVID-19. Under this agreement, the Japanese government will secure the antibody cocktail for the year 2021 for domestic supply if it is approved by the regulatory authority in Japan.

The antibody cocktail combining two virus-neutralizing antibodies, casirivimab and imdevimab, was developed by U.S.-based Regeneron for the potential treatment and prevention of COVID-19. In August 2020, Roche and Regeneron announced a collaboration to develop, manufacture and distribute the antibody cocktail. In December of the same year, Chugai obtained development rights and exclusive commercialization rights in Japan for the antibody cocktail from Roche.

The COVID-19 pandemic, including the spread of infections of variants, has been persistent, and new treatment options continue to be pursued. The two potent virus-neutralizing antibodies administered together, bind non-competitively to the critical receptor binding domain of the virus spike protein, which may neutralize the activity against SARS-CoV-2 and protects against spike variants currently circulating in the human population^*. Several overseas clinical trials have been conducted for the treatment and prevention of COVID-19. In Japan, a Phase I clinical trial has been initiated in March of this year to examine the safety, tolerability, and pharmacokinetics in Japanese.
^*Alina Baum, Benjamin O Fulton, Elzbieta Wloga, et al. Science 2020 Aug 21;369(6506):1014-101

We will continue to collaborate with the Japanese government to ensure appropriate and timely supply of the antibody cocktail upon regulatory approval.

This matter is not included in the earnings forecast for the fiscal year 2021 announced on February 4, 2021. No changes are expected to Chugai’s financial prospects at this time, but we will promptly disclose any events that should be disclosed in the future.