CORRECTION: 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 ophthalmology franchise, including CIMERLI and its commercial infrastructure, to Sandoz for $170 million in cash, plus additional payment for product inventory. The deal encompasses the CIMERLI biologics license application, sales and reimbursement teams, product inventory, and commercial software.
January 22, 2024 | 12:15 pm
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Coherus BioSciences is divesting its ophthalmology franchise to Sandoz for $170 million plus additional inventory payments, which could provide a significant cash influx and impact its financial position.
The divestiture of the ophthalmology franchise is likely to be viewed positively by investors as it provides Coherus with a substantial cash payment, which could be used to strengthen its balance sheet or invest in other areas of its business. The deal could also signal a strategic refocusing on core areas, which might be appreciated by the market.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Sandoz, a division of Novartis, is acquiring Coherus' ophthalmology franchise for $170 million plus additional inventory payments, potentially expanding its portfolio in the ophthalmology market.
Sandoz's acquisition of the ophthalmology franchise from Coherus could be seen as a strategic move to bolster its product offerings in the ophthalmology space. This may lead to potential revenue growth in the future, which could be viewed favorably by investors in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80