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Coherus Announces Agreement to Divest UDENYCA® Franchise for up to $558 million to Intas Pharmaceuticals Ltd.
Dec 03, 2024•over 1 year ago
Contract Type
agreement
Redwood CityBiotechnologyHealthcare
Description
Coherus BioSciences, Inc. has entered into an asset purchase agreement with Intas Pharmaceuticals Ltd. for the divestiture of the UDENYCA franchise for up to $558.4 million, including an upfront payment of $483.4 million to be adjusted for inventory at close and $75.0 million in potential net sales milestone payments. The company plans to use a portion of the transaction proceeds to fully repay the existing convertible notes due April 2026 and to buy-out certain royalty obligations related to UDENYCA.
Company Information
Company
Coherus BioSciences
Location
Redwood City, California, United States
About
Coherus is a commercial-stage biopharmaceutical company focused on the research, development, and commercialization of innovative immunotherapies to treat cancer and the commercialization of our portfolio of FDA-approved therapeutics. We are building a leading oncology company backed by in-house expertise and an established infrastructure from our diversified portfolio of FDA-approved biosimilar products.
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Redwood CityBiotechnologyHealthcare