First Read: Chugai Pharmaceutical "Key Takeaways from the Small ...[Erratum]"

Research evidence excerpt

First Read: Chugai Pharmaceutical "Key Takeaways from the Small ...[Erratum]"

Global Research

19 June 2026ab

First Read

EquitiesChugai Pharmaceutical

Key Takeaways from the Small Group Meeting Japan

[Erratum] Pharmaceuticals

12-month rating Buy

12m price target ¥12,000

Accelerating antibody identification and optimization to pursue advanced drug

discovery

UBS hosted a small group meeting today entitled "AI-driven Drug Discovery and Price (19 Jun 2026) ¥7,550

Research DX Initiatives Accelerating Chugai's R&D" and we share the key takeaways. RIC: 4519.T BBG: 4519 JP

Chugai's drug discovery philosophy is characterized by a strong culture of pursuing the

Trading data and key metrics

best possible drug candidate molecules, and it does not engage in drug discovery that

compromises the quality of drug candidates in favour of speed. In addition, the 52-wk range ¥10,455-6,011

company is distinguished by its technology-driven approach to drug discovery across Market cap. ¥12,425b/US$77.0b

multiple modalities, including small molecules, antibodies, and mid-sized molecules, Shares o/s 1,646m (ORD)

without restricting itself to specific therapeutic areas. In antibody drug discovery, three Free float 39%

key examples were highlighted: experimental platforms, AI-based molecular design, and Avg. daily volume ('000) 2,932

digital infrastructure. Avg. daily value (m) ¥23,735.5

1) For experimental platforms, the company aims to increase throughput and strengthen Common s/h equity (12/26E) ¥2166b

new technology development capabilities through laboratory automation systems P/BV (12/26E) 5.7x

utilizing robots and enhanced integration between systems. Net debt to EBITDA (12/26E) NM

2) For AI-based molecular design, the company has been working since around 2015 on