US-based Coherus BioSciences, Inc. (Coherus, NASDAQ: CHRS) has announced an asset purchase agreement with Indian-headquartered Intas Pharmaceuticals Ltd. (Intas) regarding the divestment of Udenyca (pegfilgrastim-cbqv), a filgrastim biosimilar used to reduce the risk of febrile neutropenia in cancer patients post-chemotherapy.
Terms of the Agreement and Product Transfer
Under the agreement, Coherus will transfer its Udenyca franchise to Intas, which includes the Udenyca pre-filled syringe, the Udenyca autoinjector, and Udenyca Onbody, a wearable injector. Intas’ US unit, Accord BioPharma, Inc., will assume full responsibility for the Udenyca franchise in the US once the deal is closed.
Financial Details and Coherus’ Plans
Coherus will receive an upfront cash payment of USD 483.4 million and two net sales milestone payments totaling USD 75.0 million. The company intends to use a portion of the transaction proceeds to fully repay its existing convertible notes of USD 230.0 million due in April 2026 and to buy out certain royalty obligations related to Udenyca, amounting to USD 49.1 million.
Coherus’ Future Focus on Tumor Immunology
Following the divestiture of the Udenyca franchise, Coherus plans to shift its focus to its tumor immunology programs. This includes Loqtorzi (toripalimab-tpzi), a PD-1 inhibitor partnered with Junshi Biosciences that has received FDA approval for nasopharyngeal carcinoma (NPC), as well as other key programs such as the IL-27 antagonist casdozokitug and CCR8 antibody CHS-114.-Fineline Info & Tech
