AbbVie And Coherus Have Settled Their Dispute Over Humira Biosimilar

(CTN News) – In a statement made on Thursday, Coherus BioSciences said that it has agreed to retract a restraining order against AbbVie after the two companies fought over the terms of launching a lower-priced version of the blockbuster rheumatoid arthritis drug Humira.

The company announced earlier this month that it would launch a biosimilar version of AbbVie’s Humira, at 85% off the list price of approximately $6,922, and it would partner with Mark Cuban Cost Plus Drug Company to sell the drug for $569.27, 85% below its list price.

It was alleged by the company that Coherus was in breach of an older agreement under which it was granted a non-exclusive license to market a biosimilar version of Humira in the United States starting from July 1, 2009.

In order to prevent AbbVie from terminating the licensing agreement, Coherus filed a restraining order against the company in order to prevent from terminating the agreement.

After this, a preliminary injunction was issued against Coherus, which is still in place, though both companies have agreed that AbbVie will not terminate its licensing agreement based on the notice that it received.

In the morning session of trading, the share price of Coherus fell 2.2% from its previous close.

If AbbVie chooses to terminate the licensing agreement, the companies have also agreed that AbbVie will have to serve another notice and give Coherus time to resolve the breach before terminating the agreement.

The reporting was done by Manas Mishra in Bengaluru, and the editing was done by Shinjini Ganguli.

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