Coherus To Divest Ophthalmology Franchise To Sandoz In $170M Cash Deal
Portfolio Pulse from Benzinga Newsdesk
Coherus BioSciences, Inc. (NASDAQ:CHRS) has agreed to sell its CIMERLI ophthalmology franchise to Sandoz for $170 million in cash, plus additional amounts for product inventory and working capital adjustments. The deal includes the CIMERLI biologics license application, sales and reimbursement teams, product inventory, and commercial software.
January 22, 2024 | 6:44 am
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Coherus BioSciences is divesting its CIMERLI ophthalmology franchise to Sandoz for $170 million plus additional considerations. This cash infusion could strengthen Coherus' balance sheet and allow for strategic reallocation of resources.
The divestiture of the CIMERLI franchise is likely to have a positive short-term impact on Coherus' stock price as it provides a significant cash inflow and may be viewed as a strategic move to concentrate on more profitable or core areas of the business. The deal could also be seen as a positive endorsement of the value of Coherus' assets.
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