Why Chugai Pharmaceutica (CHGCY) Stock Is Down Today

NEW YORK (TheStreet) -- Shares of Chugai Pharmaceutica (CHGCY) are down -4.65% to $75.40 after the company denied reports that its parent Roche Holding (RHHBY)  was in talks to buy out the Japanese drugmaker to secure full control of its cancer and arthritis drugs, according to the Wall Street Journal.

Roche owned 62% of Chugai as of June 30, and was said to be in talks to acquire the rest of the shares for about $10 billion, sources told Bloomberg

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CHGCY Chart CHGCY data by YCharts

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