Coherus Announces Agreement to Divest Ophthalmology Franchise to Sandoz in $170 Million Upfront All Cash Deal
– Transaction aligns to Coherus’ strategic focus on oncology –
– Conference call Monday, January 22, 2024, at 8:30 a.m. Eastern Time –
REDWOOD CITY, Calif., Jan. 22, 2024 (GLOBE NEWSWIRE) — Coherus BioSciences, Inc. (“Coherus,” NASDAQ:CHRS) today announced it has entered into an agreement to divest its CIMERLI® (ranibizumab-eqrn) ophthalmology franchise, inclusive of CIMERLI and its supporting commercial infrastructure, to Sandoz for upfront, all-cash consideration of $170 million plus an additional amount for CIMERLI product inventory and subject to customary working capital adjustments at the closing date. This divestiture includes Coherus’ CIMERLI biologics license application, ophthalmology sales and select field reimbursement teams, CIMERLI product inventory on hand, and access to proprietary commercial software.
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