Coherus BioSciences is a commercial-stage biopharmaceutical company focused on developing and commercializing innovative immunotherapies for cancer treatment. The company's strategy revolves around building a leading immuno-oncology franchise funded by cash generated from its portfolio of FDA-approved therapeutics. Coherus markets several biosimilar products in the US, including UDENYCA (pegfilgrastim-cbqv), a biosimilar of Neulasta, CIMERLI (ranibizumab-eqrn), a biosimilar of Lucentis, and YUSIMRY (adalimumab-aqvh), a biosimilar of Humira.
In July 2023, Coherus launched YUSIMRY at a list price of USD 995 per carton for two 40 mg/0.8 mL autoinjectors, representing a discount of more than 85% compared to Humira. This pricing strategy aims to improve patient access to adalimumab treatment by offering significant cost savings. YUSIMRY is indicated for various autoimmune conditions, including rheumatoid arthritis, psoriatic arthritis, and Crohn's disease.
Coherus is also developing toripalimab, an anti-PD-1 antibody, for the US and Canadian markets through a licensing agreement with Shanghai Junshi Biosciences Ltd. A Biologics License Application (BLA) for toripalimab in combination with chemotherapy for treating recurrent or metastatic nasopharyngeal carcinoma was under FDA review.
In March 2024, Coherus reported net revenue of USD 91.5 million for Q4 2023 and USD 257.2 million for the full year 2023, driven by sales of UDENYCA and CIMERLI. However, the company faced challenges, including a net loss of USD 79.7 million in Q4 and USD 237.9 million for the full year 2023. To address these challenges, Coherus initiated a workforce reduction of 30% to streamline operations and focus on oncology.
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