Despite having multiple world-class pharma companies and innovative research, Japan is notably absent as a source of candidate vaccines for the coronavirus. The pandemic is again throwing into sharp relief past and present challenges around the country's vaccines sector.

Next month’s regular reimbursement price cut in Japan includes some large reductions for big-selling drugs, while one new rule has been applied for the first time.

Chordia only came into being in late 2017 but has already struck its first major licensing-out deal with a major pharma firm. It is now looking ahead to taking forward a portfolio of novel oncology assets originally acquired from investor Takeda.