Chugai unveils new three-year business plan

Japanese pharma major Chugai (TYO: 4519) has set out its latest  mission statement and new three-year mid-term business plan “IBI 21” targeting a compound annual growth rate (CAGR) of high single digits in core earnings per share (EPS) for 2019-2021.

Chugai, which is majority-owned by Swiss pharma giant Roche (ROG: SIX), aims to develop hand in hand with society by solving social issues through the creation of innovative drugs and services.

In 2009, Chugai set its goal to become “a top pharmaceutical company” by the late 2010s and has sought innovation in every function under qualitative/quantitative goals. During the three years under the previous mid-term business plan “IBI 18,” the company successfully launched next growth drivers including Hemlibra (emicizumab), a hemophilia A treatment created by Chugai, and an immune checkpoint inhibitor Tecentriq (atezolizumab), while every function across the company had achievements well beyond their original targets.