Nippon Roche, Chugai merging

Nippon Roche (Tokyo, Japan) and Chugai (Tokyo, Japan) will merge, with Nippon Roche parent company Roche Group (SWX:ROCZ) owning 50.1% of the merged entity. The total merger cost to ROCZ will be CHF2-CHF 2.6 billion ($1.2-$1.6 billion). The new company will be named Chugai Pharmaceutical, and will be listed in Tokyo. It will operate as ROCZ's exclusive pharma representative in Japan, and develop and market all ROCZ Japanese products.

Prior to the merger Chugai will spin off Gen-Probe (San Diego, Calif.), a wholly owned DNA probe diagnostics blood screening subsidiary. Gen-Probe will be owned by Chugai shareholders and will be listed on the American Stock Exchange. ...