Chugai shares rise on news of FDA Actemra statement

NEW YORK A statement by the Food and Drug Administration prompted a significant price rise in shares of Chugai Pharmaceutical.

The FDA said Friday that Chugai’s drug Actemra worked for treating rheumatoid arthritis, and lower doses reduced side effects.

Chugai’s stock rose in Tokyo trading by 69 yen to 1,650 yen, or about $15.36. It was the largest increase in a month.