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Coherus Biosciences ( (CHRS) ) has shared an update.
The Company is addressing a temporary supply interruption of its UDENYCA product lines, with expected channel depletion by mid-October and a resumption of supply in early November. Despite this setback, the Company has invested over $30 million since 2021 to diversify and enhance its supply chain, including doubling drug substance capacity and significantly expanding drug product fill manufacturing. These expansions are set to reduce UDENYCA production costs by about one-third. The Company maintains its previously announced R&D and SG&A expense guidance for 2024, while working to mitigate the supply interruption’s impact on customers and planning to rebound with increased sales in the fourth quarter.
See more insights into CHRS stock on TipRanks’ Stock Analysis page.