Japan Pharma Stock Surges 60% This Year to Reach Sony’s Size
- Chugai is the best performer on the Nikkei 225 this year
- Shares buoyed by coronavirus, cancer treatments and momentum
Photographer: Kiyoshi Ota/Bloomberg
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There’s a new king in the world of Japanese pharma after hopes for a coronavirus treatment helped to turbocharge its shares.
Chugai Pharmaceutical Co., Japan’s leading oncology company, is the best performer on the Nikkei 225 this year, up almost 56% versus the 2% drop in the broader index. The surge has brought its market value almost neck-and-neck with that of electronic giant Sony Corp. to become the seventh largest company in the country.