Coherus BioSciences, Inc. (Nasdaq: CHRS), a commercial biosimilar company, announced on1/25/19 that 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 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®.
The company is currently preparing its biologics license application for CHS-1420 for submission to the U.S. Food and Drug Administration, with anticipated filing in late 2019. Upon the expected U.S. market launch of CHS-1420 in late 2023, the company believes it will be well-positioned to effectively leverage the commercial infrastructure it has already deployed for its recent U.S. launch of Udencya (pegfilgrastim-cbqv). Coherus continues to evaluate options and potential strategies for ex-U.S. commercialization of CHS-1420.
Coherus currently has six drugs in development, including a PPAR-gamma modulator that is being studied in NASH, diabetes and multiple sclerosis. In November of 2018, the FDA approved Udencya, Coherus' Neulasta biosimilar.