Chugai Pharmaceutical and Rani Therapeutics entered a global license and collaboration to develop an oral product combining Rani’s Ranipill robotic oral delivery technology with Chugai’s rare‑disease antibody, a deal valued at up to $1 billion. Partners intend to advance an oral biologic program that could shift administration from parenteral to oral routes. The agreement covers development and commercialization rights and reflects growing industry interest in enabling large‑molecule oral delivery—a long‑sought capability that could alter patient access and adherence for chronic biologics. Biotech manufacturing and formulation groups will watch closely for translation of the Ranipill concept into scalable, regulatory‑acceptable clinical programs that can meet pharmacokinetic and safety comparators to injectable standards.