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Benzinga
Benzinga
Technology
Vandana Singh

Why Is Coherus BioSciences Stock Trading Higher On Tuesday?

Coherus Coherus BioSciences United States Cancer CHRS Merus

On Tuesday, Coherus BioSciences, Inc. (NASDAQ:CHRS) entered into an asset purchase agreement with Intas Pharmaceuticals Ltd for the divestiture of the Udenyca (pegfilgrastim-cbqv) franchise for up to $558.4 million.

The deal consideration includes an upfront payment of $483.4 million, to be adjusted for inventory at the close, and $75 million in potential net sales milestone payments.

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