– US-based supply chain mitigates coronavirus-related disruption risks –
– UDENYCA® current inventory of over 300,000 syringes –
REDWOOD CITY, Calif., March 05, 2020 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (“Coherus” or the “Company”, Nasdaq: CHRS), today announced its United States manufacturing and distribution is well positioned to ensure uninterrupted availability of UDENYCA® for patients. Coherus does not source active pharmaceutical ingredients (API) for UDENYCA® from China, or India, and its manufacturing site in Boulder, Colorado has not been impacted by coronavirus.
“UDENYCA®’s current inventory of over 300,000 syringes and ongoing manufacturing efforts will ensure supply continuity for the foreseeable future, even in increased demand scenarios,” commented Vince Anicetti, Chief Operations Officer of Coherus. “Reliable, high-quality supply is a key enabler to our mission of increasing patient access and delivering savings to the healthcare system. Our made-in-America supply chain will continue to meet the needs of patients at this critical time when availability of important medicines may be at risk due to the coronavirus outbreak.”
About Coherus BioSciences, Inc.
Coherus is a leading biosimilar company that develops and commercializes its own high-quality therapeutics as well as those of others seeking capable access to the United States market. Biosimilars are intended for use in place of existing, branded biologics to treat a range of chronic and often life-threatening diseases, with the potential to reduce costs and expand patient access. Composed of a team of proven industry veterans with world-class expertise in process science, analytical characterization, protein production, sales and marketing and clinical-regulatory development, Coherus is positioned as a leader in the global biosimilar marketplace. Coherus commercializes UDENYCA® (pegfilgrastim-cbqv) in the U.S. and has received regulatory approval for UDENYCA® in the European Union. Coherus is advancing late-stage clinical products CHS-1420, Humira® (adalimumab) biosimilar, Bioeq’s Lucentis® (ranibizumab) biosimilar and Innovent’s Avastin® (bevacizumab) biosimilar towards commercialization, and early-stage clinical products, CHS-2020, Eylea® (aflibercept) biosimilar, and CHS-131, a small molecule for nonalcoholic steatohepatitis (NASH) and multiple sclerosis. For additional information, please visit www.coherus.com.
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Coherus’ ability to ensure patient access to UDENYCA®, increase patient access and deliver savings to our healthcare system in the United States; and Coherus’ ability to maintain UDENYCA®’s market position as the leading pegfilgrastim biosimilar. Such forward-looking statements involve substantial risks and uncertainties that could cause Coherus’ actual results, performance or achievements to differ significantly from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the risks and uncertainties inherent in the manufacturing process for and the distribution of biologics. All forward-looking statements contained in this press release speak only as of the date on which they were made. Coherus undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Coherus’ business in general, see Coherus’ Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on February 27, 2019 and its future periodic reports to be filed with the Securities and Exchange Commission. Our results for the quarter and year ended December 31, 2019 are not necessarily indicative of our operating results for any future periods.
UDENYCA® is a trademark of Coherus BioSciences, Inc.
David S. Arrington
VP, Investor Relations & Corporate Affairs
Coherus BioSciences, Inc.
+1 (650) 395-0196