Coherus BioSciences Announces Global Settlement with AbbVie Securing Rights to Commercialize its Adalimumab Biosimilar Candidate, CHS-1420
Coherus BioSciences, Inc. (CHRS)
Last coherus biosciences, inc. earnings: 2/27 04:01 pm
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Source: GlobeNewswire
REDWOOD CITY, Calif., Jan. 25, 2019 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Nasdaq: CHRS), a commercial biosimilar company, today announced it has executed settlement agreements with AbbVie Inc. that grant Coherus global, non-exclusive license rights under AbbVie’s intellectual property to commercialize CHS-1420, Coherus’ proposed adalimumab (HUMIRA®) biosimilar. The global settlements resolve all pending disputes between the parties related to Coherus’ adalimumab biosimilar. Under the U.S. settlement, Coherus’ license period in the U.S. commences on December 15, 2023. Coherus will pay royalties to AbbVie. Financial terms are not disclosed.“Biosimilars have an essential role in our healthcare system to restrain cost increases while expanding access for patients,” said Denny Lanfear, Chairman, CEO and President of Coherus. “We expect to launch CHS-1420 with our own sales force and deliver significant top-line growth thereafter.” CHS-1420 is among a number of significant bios
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