Coherus Biosciences (CHRS) has released an update to notify the public and investors about an entry into a material definitive agreement.
On January 19, 2024, Coherus BioSciences, Inc. agreed to sell its CIMERLI® ophthalmology franchise to Sandoz Inc. for $170 million plus inventory costs, with potential adjustments. The sale is contingent upon standard closing conditions, including antitrust clearance, and may be terminated by either party if not completed by April 19, 2024, with a possible thirty-day extension. The Purchase Agreement includes indemnification rights, operational restrictions until closing, non-compete clauses, and employee agreements. The representations and warranties are for transaction purposes only and should not be considered factual for investors, who are not third-party beneficiaries.
For further insights into CHRS stock, check out TipRanks’ Stock Analysis page.
