Chugai Pharmaceutical signed a global collaboration and license with Rani Therapeutics to develop an oral product that pairs Rani’s Ranipill robotic delivery platform with a Chugai rare‑disease antibody, in a deal valued up to $1 billion. The agreement brings a clinical‑stage antibody into an oral delivery program and marks a major commercial bet on pill-based biologics. Companies said the partnership will target indications where oral administration could materially change patient adherence and access. The transaction highlights growing industry interest in alternative delivery technologies for large molecules.