AbbVie vs Coherus: Dispute Emerges over Upcoming Launch of Low-Cost Biosimilar, Yusimry

AbbVie Inc ABBV has challenged Coherus BioSciences Inc CHRS, alleging Coherus breached its settlement and license agreement after it announced its plans to launch Yusimry, a biosimilar of blockbuster drug Humira (adalimumab), for rheumatoid arthritis.

The company plans to launch Yusimry in July 2023 with a list price of $995 per carton (2 x 40 mg/0.8 mL autoinjectors), the lowest price announced to date of any adalimumab offering in the U.S.

With Humira currently priced at $6,922 per carton of two autoinjectors, the Yusimry price will represent an 85% discount from the originator.

Also, Mark Cuban Cost Plus Drug Company plans to offer the drug to its customers at $569.27 plus dispensing and shipping fees starting in July 2023.

In reaction, Coherus has sent a written response denying the allegation and requesting that AbbVie provide more information.

Coherus BioSciences has filed a motion for a temporary restraining order against the pharma giant in the Delaware Court of Chancery on June 13, the company said in its SEC filing, adding that AbbVie also filed a preliminary injunction.

However, after negotiations, on June 14, AbbVie agreed it would not attempt to end the agreement between the companies under certain conditions.

Price Action: ABBV shares are down 0.37% at $135.72, and CHRS shares are down 5.13% at $5.09 on the last check Thursday.