Coherus BioSciences shares are trading higher after the company agreed to divest its Cimerli ophthalmology franchise to Sandoz for $170 million plus an additional amount for inventory.
Portfolio Pulse from Benzinga Newsdesk
Coherus BioSciences has agreed to sell its Cimerli ophthalmology franchise to Sandoz for $170 million, plus an additional amount for inventory. This deal is likely to provide Coherus with a significant cash infusion.
January 22, 2024 | 12:19 pm
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Coherus BioSciences is expected to receive a substantial cash inflow from the sale of its Cimerli ophthalmology franchise to Sandoz, which could strengthen its financial position.
The sale of the Cimerli ophthalmology franchise is a significant transaction for Coherus BioSciences, providing a large cash inflow that could be used to pay down debt, invest in other projects, or return capital to shareholders. This influx of cash is likely to be viewed positively by investors, potentially leading to a short-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100