Coherus divests CIMERLI ophthalmology franchise to Sandoz for $170M upfront cash

Coherus Oncology, Inc.

Divestiture of CIMERLI (ranibizumab-eqrn) and supporting commercial infrastructure to Sandoz.
Total upfront cash consideration $170M plus value of CIMERLI product inventory and working capital adjustments.
Coherus intends to use proceeds to pay down debt, reduce interest costs, and focus on oncology (UDENYCA, LOQTORZI, pipeline).
Closing expected first half 2024, subject to HSR antitrust waiting period expiration or termination.
Coherus reduces headcount and overhead; J.P. Morgan and Latham & Watkins advised.

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