Coherus Biosciences has completed the sale of Udenyca, which represents the third segment of its legacy biosimilar business. This deal comes after the company had previously divested other assets, including Cimerli and Yusimry.
The sale of Udenyca, which was projected to fetch around $400 million, or approximately twice its sales, has instead reached a potential value of $558 million, a figure that has positively surprised market observers.
The agreement to sell Udenyca also includes the elimination of Coherus Biosciences' convertible debt, which was due in 2026 and amounted to $230 million. The resolution of this debt is seen as a significant relief for the company, removing a previously contentious issue for shareholders and potentially attracting new investors who are focused on pure-play biotech companies without the looming concern of financing risks.
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