Chugai Pharmaceutical Co.

Chugai Pharmaceutical is a Tokyo-listed drugmaker majority owned by Roche, known for Hemlibra, Actemra and Enspryng and for originating the oral GLP-1 drug licensed to Eli Lilly.

The world Chugai works in, not its own labs. Credits in the footer.

Ticker: 4519
Listing: TSE, Japan
Next date: November 2, 2026
Chief executive: Osamu Okuda

Desk view · Opinion · Updated Oct 22, 2026

Chugai earns more from drugs it discovers and others sell

Chugai is a profitable drug discoverer with a large cash balance, and its growth now leans on royalties from products others sell, led by Foundayo. NXT007 is the largest in-house bet, with the first estimated primary completion in September 2027. Dependence on Roche and on one-time income are the main points of concern.

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aibio.space Investor Rank · Opinion

8/10 Positive view

Profitable with a large cash balance and royalty growth led by Foundayo; reliance on Roche and on one-time income are the main concerns.

Technology: 2/2
Odds: 1/2
Balance sheet: 2/2
Risk: 1/2
Momentum: 2/2

Opinion only. The Investor Rank is aibio.space's opinion of the company's business position, drawn from the public sources on this page. It is not a recommendation to buy, sell or hold any security and it is not investment advice. It does not consider the share price, valuation or your circumstances, and it can change at any time. Payments from companies never affect it. How the rank works.

Technology: Antibody engineering produced Enspryng, macrocyclic peptides are a newer platform with AQUA07 in the clinic, and NXT007 is in phase 3.
Odds: Mixed. Near-term filings are lower risk, while NXT007 faces a head-to-head phase 3 against emicizumab.
Balance sheet: Strong, by third-party data. StockAnalysis lists cash and short-term investments of JPY 962.6 billion at June 30, 2026; we could not confirm this from a filing.
Main risk: Dependence on Roche, and on royalty and one-time income to meet a forecast that has other revenue rising 36.0%.
Watch next: The Chugai Pharma Korea launch on November 2, the NXT007 pediatric trial start, and the Japanese sparsentan filing.

Dates

November 2, 2026
Planned incorporation of Chugai Pharma Korea Co., Ltd., a wholly owned subsidiary Source

November 30, 2026 (estimated)
Estimated start of the pediatric phase 3 trial of NXT007 in hemophilia A Source

2026
Planned Japanese filing of sparsentan in IgA nephropathy Source

2026
Planned regulatory application for Enspryng in MOGAD Source

September 23, 2027 (estimated)
Estimated primary completion of the NXT007 versus factor VIII phase 3 trial Source

The money

Cash and equivalents JPY 390.4 billion plus short-term investments JPY 572.1 billion at June 30, 2026 (JPY 962.6 billion combined), per StockAnalysis. Profitable; no runway guidance applies. Source

H1 2026 core revenue JPY 663.3 billion, up 14.7%; core operating profit JPY 329.1 billion, up 21.0%. 2026 core revenue forecast JPY 1,345.0 billion. Source

Risks on the record

Roche held 61.1% of Chugai at December 31, 2025, and overseas sales depend on exports of Hemlibra and Actemra to Roche. Source
First-half other revenue was lifted by one-time income, and Chugai's forecast depends on other revenue rising 36.0% in 2026. Source

Questions investors ask

What is aibio.space's Investor Rank for Chugai Pharmaceutical Co.?

8 out of 10, our positive view. Profitable with a large cash balance and royalty growth led by Foundayo; reliance on Roche and on one-time income are the main concerns. This is opinion only, not a recommendation to buy, sell or hold, and it does not consider the share price or valuation. Source

Who is the CEO of Chugai Pharmaceutical?

Osamu Okuda is Chugai's president and CEO. He was quoted in that role in the September 29, 2026 announcement of the SPYK04 licensing agreement with InxMed. Source

How much did Chugai earn in the first half of 2026?

Core revenue was JPY 663.3 billion, up 14.7%, with core operating profit of JPY 329.1 billion, up 21.0%, and core net income of JPY 238.4 billion, up 23.2%. Source

What does Chugai earn from Foundayo?

Foundayo (orforglipron) was originated by Chugai and licensed to Eli Lilly. Chugai said it began recognizing royalty income from the product in the second quarter of 2026. The amount was not disclosed in the figures reviewed. Source

What is NXT007?

NXT007 is Chugai's hemophilia A candidate. Registry entries list phase 3 trials against emicizumab and against factor VIII prophylaxis, and a pediatric phase 3 trial with an estimated start of November 30, 2026. Source

Why is Chugai opening a subsidiary in South Korea?

Chugai said Chugai Pharma Korea, to be incorporated on November 2, 2026, will obtain marketing authorizations and build in-house sales for pipeline products such as sparsentan, NXT007 and macrocyclic peptide drugs, rather than relying on local out-licensing. Source

Legal and investor matters

Checked against Chugai Pharmaceutical Co. filings and press releases. Allegations are allegations; nothing here is a finding of fault. Reviewed Oct 25, 2026.

Aug 6, 2026Litigation
Chugai is plaintiff in three Tokyo patent suits over Epkinly
Genmab's half-year report filed August 6, 2026 says Chugai sued AbbVie's and Genmab's Japanese subsidiaries in the Tokyo District Court in 2024. Chugai alleges that Epkinly (epcoritamab) activities in Japan infringe two of its patents, and it claims damages and an injunction. It filed two further suits in September 2025 on two newly granted patents. Genmab and AbbVie say all four patents are invalid or not infringed. This is the defendants' account, not a Chugai filing.
Tokyo District Court · Status: pending
Genmab Form 6-K, 2026-08-06

Pipeline

Program	Indication	Stage
NXT007	Hemophilia A	Two phase 3 trials recruiting; a pediatric phase 3 (age 0 to 11) listed as not yet recruiting with estimated start Nov 30, 2026 Source
Foundayo (orforglipron), licensed to Eli Lilly	Obesity and type 2 diabetes	Approved in the US for obesity April 2026; under review in more than 40 countries Source
Enspryng	MOGAD antibody disease	Phase 3 results presented; regulatory application being prepared within 2026 Source
Sparsentan	IgA nephropathy	Positive Japanese phase 3 topline results; Japan filing scheduled for 2026 Source
AQUA07	ALK-positive non-small cell lung cancer	Phase 1 dosing expected to start shortly Source

Stock chart

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