Coherus BioSciences Inc. (CHRS) said it has executed settlement agreements with AbbVie Inc. that grant Coherus global, non-exclusive license rights under AbbVie's intellectual property to commercialize CHS-1420, Coherus' proposed adalimumab (HUMIRA) biosimilar.
The global settlements resolve all pending disputes between the parties related to Coherus' adalimumab biosimilar. Under the U.S. settlement, Coherus' license period in the U.S. commences on December 15, 2023. Coherus will pay royalties to AbbVie. Financial terms are not disclosed.
CHS-1420 is among a number of significant biosimilar candidates in Coherus' pipeline of high-value treatments for patients in need, which include the company's biosimilar candidates directed to Enbrel, Lucentis and Eylea.
The company is currently preparing its biologics license application for CHS-1420 for submission to the U.S. Food and Drug Administration, with anticipated filing in late 2019.
Upon the expected U.S. market launch of CHS-1420 in late 2023, the company believes it will be well-positioned to effectively leverage the commercial infrastructure it has already deployed for its recent U.S. launch of UDENYCA (pegfilgrastim-cbqv). Coherus continues to evaluate options and potential strategies for ex-U.S. commercialization of CHS-1420.
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