Coherus' new focus on oncology leads to restructuring, 30% layoffs
14 Mar 2024
Acquisition
Coherus BioSciences is laying off about 30% of its staff by the end of the year, following its plan to focus on oncology and its sale of ophthalmology biosimilar Cimerli to Sandoz.
In its full-year earnings, Coherus said Wednesday that a “sharpened focus in oncology and a subsequent restructuring” would lead to the layoffs, with about 35 of those positions linked to the sale of Cimerli. Coherus estimated it will save the company more than $25 million in annualized cost savings.
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Source: EndPoints
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