Coherus BioSciences Divests YUSIMRY In $40 Mln Cash Deal As It Focuses On Oncology

(RTTNews) - Coherus BioSciences, Inc. (CHRS) announced Thursday divested YUSIMRY (adalimumab-aqvh) to Hong Kong King-Friend Industrial Co. Ltd. or HKF for up-front all-cash consideration of $40 million.

Meitheal Pharmaceuticals, Inc., a subsidiary of HKF, will continue to commercialize YUSIMRY in the U.S.

YUSIMRY (adalimumab-aqvh) is a biosimilar to HUMIRA (adalimumab). YUSIMRY is a TNF inhibitor, designed to relieve symptoms of chronic inflammatory disease such as joint pain and digestive issues.

Coherus said the sale aligns with its strategic focus on oncology.

Denny Lanfear, Coherus Chairman and Chief Executive Officer, said, "With the divesture of YUSIMRY, Coherus reinforces its strategic focus on oncology. The proceeds from the sale of YUSIMRY will bolster our cash position, advance our efforts to become a sustainable and growing oncology company and efficiently allocate our resources for maximum value creation."

In the deal, Latham & Watkins LLP provided Coherus with legal counsel.