Coherus Biosciences, Amgen analyst commentary at Maxim
Maxim sees probability of Humira patent ruling favoring Coherus. Maxim analyst Jason McCarthy said if Amgen's (AMGN) '135 patent for Humira is invalidated on May 17, Coherus Biosciences (CHRS) could potentially launch CHS-1420, its proposed biosimilar of adalimumab, in 2018, four years before others competing to launch a Humira biosimilar. He believes the probability favors Coherus, citing the fact that the company's focus on developing biosimilars is based on IP first. Coherus will need to raise capital again, but the outcome of the Humira patent decision and the upcoming approval decision for Neulasta on June 9 will determine at what valuation, said McCarthy, who has a Buy rating and $43 price target on Coherus shares.
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