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Coherus Abandons Adalimumab Biosimilar, Sells Rights to Hong Kong King-Friend for $40M

Jun 27, 2024

On 27 June 2024, Coherus BioSciences announced that it has agreed to divest its Yusimry™, biosimilar to AbbVie’s Humira (adalimumab), to Hong Kong King-Friend (HKF) for up-front all-cash consideration of USD $40M.  On the same day, Meitheal Pharmaceuticals, wholly owned subsidiary of HKF, announced it has received an exclusive US licence for the supply of Yusimry™ from HKF.  

Meitheal expects to receive US approval for the high concentration formulation of Yusimry™ in 2025.  

This divestment comes 12 months after a settlement between AbbVie and Coherus relating to AbbVie’s allegations of breach of contract relating to the Coherus 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 2021. 

Yusimry was launched in the US in July 2023, together with Organon and Samsung Bioepis’ Hadlima®, Sandoz’s Hyrimoz®, Celltrion’s Yuflyma®, Fresenius Kabi’s Idacio®, Biocon Biologics’ Hulio® and Boehringer Ingelheim’s Cyltezo® pursuant to their respective settlement agreements with AbbVie.