Exhibit 99.1
Coherus BioSciences Receives Transitional
Pass-Through Status from CMS
REDWOOD CITY, Calif., March 18, 2019 — Coherus BioSciences, Inc. (Nasdaq: CHRS), today announced that the Centers for Medicare and Medicaid Services (CMS) approved UDENYCA™ (pegfilgrastim-cbqv) biosimilar for transitional pass-through payment status in the hospital outpatient setting. Effective April 1, 2019, UDENYCA™ is granted 36 months of transitional pass-through status.
Transitional pass-through payment status for Medicare reimbursement in the hospital outpatient setting has been established by Congress to incentivize access for Medicare patients to biosimilars and novel therapies.
“We launched UDENYCA™ with a significantly lower list price, 33% below that of Neulasta®,” said Denny Lanfear, President and CEO of Coherus. “We applaud the Centers for Medicare and Medicaid Services for establishing transitional pass-through status and expanding access to therapies such as UDENYCA™ for the nation’s Medicare patients.”
Under the program, reimbursement for UDENYCA™ in the 340B hospital outpatient setting will be calculated at list price, also known as the Wholesale Acquisition Cost (WAC) for UDENYCA™+ 6%. Once the CMS Average Sales Price (ASP) for UDENYCA™ is established, reimbursement will be calculated at the ASP for UDENYCA™ + 6% of the ASP for Neulasta®, for the remainder of the pass-through status effective period. By comparison, Neulasta® is currently reimbursed at its Average Sales Price (ASP) – 22.5%.
For more information on biosimilar reimbursement please access Coherus COMPLETE: www.coheruscomplete.com/provider-resources.html
About Coherus BioSciences, Inc.
Coherus BioSciences is a leading biosimilar company that develops and commercializes high-quality therapeutics for major regulated markets. Biosimilars are intended for use in place of existing, branded biologics to treat a range of chronic and often life-threatening diseases, with the potential to reduce costs and expand patient access. Composed of a team of proven industry veterans with world-class expertise in process science, analytical characterization, protein production, sales and marketing and clinical-regulatory development, Coherus BioSciences is positioned as a leader in the global biosimilar marketplace. Coherus BioSciences commercializes UDENYCA™ (pegfilgrastim-cbqv) in the U.S. and has received regulatory approval for UDENYCA™ in the European Union. Coherus BioSciences is advancing two late-stage clinical products towards commercialization,CHS-1420 (adalimumab biosimilar) andCHS-0214 (etanercept biosimilar), and developing a robust pipeline of future products in ophthalmology (includingCHS-3351, a ranibizumab biosimilar, andCHS-2020, an aflibercept biosimilar), as well asCHS-131, a small molecule for nonalcoholic steatohepatitis (NASH) and multiple sclerosis. For additional information, please visitwww.coherus.com.
About UDENYCA™
UDENYCA™ (pegfilgrastim-cbqv) is a PEGylated growth colony-stimulating factor indicated to decrease the incidence of infection, as manifested by febrile neutropenia, in patients withnon-myeloid malignancies