Coherus Earlier Announced Agreement To Divest Ophthalmology Franchise Cimerli To Novarts' Sandoz Unit For $170M Upfront All Cash Deal
Portfolio Pulse from Charles Gross
Coherus BioSciences, Inc. (NASDAQ:CHRS) has agreed to sell its CIMERLI ophthalmology franchise to Sandoz, a unit of Novartis (NYSE:NVS), for $170 million in cash. The deal includes the CIMERLI biologics license application, sales and reimbursement teams, product inventory, and commercial software.
January 22, 2024 | 10:29 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Coherus BioSciences is divesting its CIMERLI ophthalmology franchise to Sandoz for $170 million in cash, which could provide a significant cash influx and streamline its operations.
The divestiture of the CIMERLI franchise is likely to have a positive short-term impact on Coherus' stock price due to the immediate cash inflow and the potential for improved financial flexibility. The deal could also be seen as a strategic move to focus on more profitable or core areas of the business.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Novartis, through its Sandoz unit, is acquiring Coherus' CIMERLI ophthalmology franchise for $170 million, which may enhance its product portfolio in the ophthalmology market.
For Novartis, the acquisition of the CIMERLI franchise could be positive in the short term as it expands the company's ophthalmology portfolio. The deal may be viewed favorably by investors as it signifies Novartis' commitment to growing in specialized therapeutic areas.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70