Coherus Biosciences Sells Ophthalmology Franchise to Sandoz for $170M
TL;DR Summary
Coherus BioSciences, Inc. has agreed to sell its ophthalmology franchise, including CIMERLI, to Sandoz for $170 million in cash, aligning with its strategic focus on oncology. The divestiture aims to pay down debt, reduce interest costs, and allow the company to concentrate on its core therapeutic area. Coherus' oncology assets include UDENYCA and LOQTORZI, and the transaction is expected to close in the first half of 2024, subject to certain conditions and approvals.
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