Spectrum Pharmaceutecals Inc (SPPI)

[antihama]

This is interesting.

Coherus Addresses Trade Secret Action Filed by Amgen.

REDWOOD CITY, Calif., March 06, 2017 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Nasdaq:CHRS), today announced that Amgen has filed a trade secret action in California state court on March 3, 2017 alleging trade secret misappropriation and other claims against Coherus and other parties.

“Coherus believes that this action is without merit and will defend against it vigorously,” said Denny Lanfear, President and Chief Executive Officer of Coherus. “We categorically reject the theme of Amgen’s complaint that Coherus has engaged, or is engaging, in a scheme to misappropriate trade secrets or commit other wrongdoing. Coherus believes this lawsuit is best understood as an effort by Amgen to use baseless litigation in an effort to delay Coherus as a competitor in the pegfilgrastim market.”

Mr. Lanfear also noted, “Coherus does not need Amgen’s proprietary information to compete or be successful. We are proud of Coherus’ novel clinical development strategy and novel clinical study designs that were never performed at Amgen and are not Amgen’s intellectual property.”
Mr. Lanfear further noted, “We place a high value on employee integrity and Coherus has had in place significant control practices regarding both the recruitment and conduct of incoming personnel.”

Finally, Mr. Lanfear emphasized, “Coherus remains committed to the important goal of bringing much-needed biosimilar drugs to the marketplace. We are confident that we will prevail in this action and achieve our goals of increasing patient access, introducing competition and offering biosimilar products at prices competitive with and lower than those maintained by Amgen and other large pharmaceutical companies.”

https://globenewswire.com/news-release/2017/03/06/931773/0/en/Coherus-Addresses-Trade-Secret-Action-Filed-by-Amgen.html

Wonder if this will delay Coherus' Neulasta biosimilar? As we know the Novartis biosim has been significantly delayed. Will this court case delay the Coherus version? We'll find out soon enough.