Coherus has confirmed in a Form 8-K filed with the SEC that it has resolved its recent dispute with AbbVie relating to a potential breach of its settlement and licence agreement entered into in late 2019, under which Coherus received a royalty bearing non-exclusive licence to commercialise its biosimilar adalimumab YUSIMRY® from 1 July 2023.
According to the SEC disclosure, in a letter from AbbVie Coherus received on 6 June 2023, AbbVie claimed that Coherus breached its obligations under the agreement by announcing an 85% discount for its US launch of YUSIMRY® and its partnership with Mark Cuban on 1 June 2023.
Coherus responded to AbbVie on 11 June 2023 denying the allegation and requesting more information. On 13 June, it also filed a motion for a temporary restraining order in the District Court of Delaware against AbbVie to prevent it from terminating the license, and AbbVie filed for preliminary injunction on the same day
After negotiations the next day, 14 June 2023, Coherus agreed to resolve its motion for a temporary restraining order against AbbVie, and AbbVie agreed not to terminate the licence agreement relating to the commercialisation of YUSIMRY®, adalimumab biosimilar to AbbVie’s Humira®. AbbVie will only be entitled to terminate if it serves a new notice of breach and affords Coherus an opportunity to cure any alleged breach.