Intas acquires Udenyca from Coherus BioSciences in potential $558 million deal

Indian pharmaceutical company Intas Pharmaceuticals signed a deal to acquire Udenyca, a bone marrow stimulant used to treat low white blood-cell counts in patients who take cancer medications. Accord BioPharma, the US specialty division of Intas, will manufacture Udenyca in the US and will welcome employees from Coherus into its business operations.

“This agreement is representative of the commitments shared by Accord BioPharma and its parent company Intas Pharmaceuticals to recognize the vast potential of biosimilars,” a spokesperson for Accord told us, adding that it supports the company’s goal of “building biosimilar market leadership by expanding their portfolio of Food and Drug Administration (FDA)-approved specialty products.”

“Accord will need additionally talented, experienced individuals to support their growth as a company. Part of this growth will be accomplished by having certain team members from Coherus join Accord as the company builds for the future.”

Coherus will receive up to $558.4 million, including an upfront payment of $483.4 million and up to $75 million in milestone payments.

“The proposed divestiture of Udenyca represents the successful execution of our strategy to focus R&D and commercial resources on Coherus’ innovative immuno-oncology portfolio and to strengthen our financial position,” said Denny Lanfear, Coherus chairman and CEO. “By paying off our convertible notes in their entirety, we will significantly improve our capital structure and align our operational footprint with our strategic focus. As we enter this new phase of growth, we are well positioned to drive significant value for both patients and shareholders as we advance our mission to extend cancer patient survival.”

The spokesperson confirmed that Accord has a solid manufacturing plan in place to continue making Udencya, which can be administered in three ways: through a prefilled syringe, an autoinjector, or an on-body injector.

"In considering our strategic pathways to achieve future growth, acquiring the Udenyca business in the US is appealing for two reasons: the product's impressive sales and uptake, and its range of administration options that give patients an opportunity to align their needs with a treatment plan," said Binish Chudgar, executive chairman and managing director of Intas Pharmaceuticals. "Having an on-body injector within our portfolio will allow us to provide immune supportive care to patients in a variety of settings, including at home, a benefit to patients who live far away from their care center."

The spokesperson added, “Accord is excited about the potential to leverage the collective experience within the company and their network to successfully bring biosimilars to the United States and expand their use. Their goal with Udenyca is to propel this medicine to new heights, ensuring that more patients in need have access.”