Coherus Earlier Announced Agreement To Divest Ophthalmology Franchise Cimerli To Novarts' Sandoz Unit For $170M Upfront All Cash Deal

Author: Charles Gross | January 22, 2024 06:29am

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.

Posted In: CHRS NVS