Coherus BioSciences Announces Global Settlement with AbbVie

Coherus BioSciences (Nasdaq:CHRS), a commercial biosimilar company, announced it has executed settlement agreements with AbbVie that grant Coherus global, non-exclusive license rights under AbbVie’s intellectual property to commercialize CHS-1420, Coherus’ proposed adalimumab (HUMIRA®) biosimilar.

As quoted in the press release:

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 biosimilar candidates in Coherus’ pipeline of high-value treatments for patients in need, which include the company’s biosimilar candidates directed to Enbrel®, Lucentis® and Eylea®.

Click here to read the full press release.