Coherus shares stumble on supply issue
Californian company Coherus Biosciences (Nasdaq: CHRS) has seen its share price tumble by 24% since Friday.
Coherus disclosed a problem with its supply chain impacting Udenyca (pegfilgrastim-cbqv), a biosimilar of Amgen’s (Nasdaq: AMGN) Neulasta (pegfilgrastim) that is licensed in three formulations - preflled syringe, autoinjector, and preflled syringe co-packaged with an on-body injector.
The company’s USA-based, third-party contract manufacturing organization (CMO) for final packaging recently informed Coherus of its over-commitments and capacity constraints at its final labelling and packaging facility that will cause a temporary Udencya supply interruption.
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