Coherus BioSciences has completed the sale of its Udenyca (pegfilgrastim-cbqv) franchise to Intas Pharmaceuticals under an asset purchase agreement signed by the companies in December 2024 for up to $558.4m.
Coherus obtained $483.4m in cash upfront on its completion, and $118.4m for the therapy’s inventory.
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The amount is subject to post-closing adjustments.
Coherus now stands to gain a further $75m in two separate milestone payments, contingent upon Intas achieving net sales targets for the therapy.
Intas obtained identified assets associated with the therapy franchise, which include the pre-filled syringe, the autoinjector and the Udenyca Onbody, while also taking on certain specified liabilities.
Coherus was advised by JP Morgan Securities for the financial aspects of the transaction, while Latham & Watkins provided legal advisory services to the company.
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By GlobalDataCoherus BioSciences CEO and chairman Denny Lanfear stated: “With strong strategic execution, we have transformed the company while dramatically reducing our debt and leaving $250m on the post-close balance sheet.
“This provides ample runway to achieve our mid-term corporate objectives, including maximising Loqtorzi revenues, advancing our novel immuno-oncology candidates in combination with Loqtorzi to key data milestones in 2026, and progressing label-expanding indications for Loqtorzi in novel combinations.”
During the transaction’s closure, Intas’ US speciality division Accord BioPharma took over complete responsibility for the therapy’s franchise in the country.
Accord is now set to make the therapy available for reducing infection incidence in individuals with non-myeloid malignancies undergoing myelosuppressive anti-cancer treatments.
The acquisition not only broadens Accord’s product portfolio but also incorporates key employees of Coherus into its team.
These employees will contribute to the ongoing development and expansion of the therapy across marketing, sales, supply chain, finance and quality, and manufacturing.
