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Coherus BioSciences Announces Apexus Contract Agreement for 340B Hospitals and Clinics, and Q-Code Issuance from CMSREDWOOD CITY, Calif., Nov. 30, 2018 (GLOBE NEWSWIRE) -- Coherus BioSciences, Inc. (Nasdaq: CHRS), today announced that the company has executed a 340B prime vendor program contract agreement with Apexus, LLC. Apexus is a recognized leader in the ambulatory hospital outpatient setting and the Health Resources and Services Administration prime vendor for the 340B drug pricing program, of which UDENYCA™ (pegfilgrastim-cbqv) is a part. Apexus contracts with more than 95% of the 340B eligible covered entities, and the 340B channel represents about 35% of the Neulasta® (pegfilgrastim) units sold in the U.S.
“Apexus is pleased to be one of Coherus BioSciences’ first partners in the launch of UDENYCA™, a pegfilgrastim biosimilar recently approved by the FDA,” said Chris Hatwig, President of Apexus. “We look forward to working with Coherus in optimizing biosimilar use with this new agreement for UDENYCA™ and to lowering drug pricing, while improving patient access.” In addition to entering into a UDENYCA™ contract agreement with Apexus, Coherus BioSciences has received Q-Code medical billing status for UDENYCA™ from the Centers for Medicare and Medicaid Services (CMS). A Healthcare Common Procedure Coding System Q-Code enables broad and expansive accss to patients and providers. Code Q5111 will be effective January 1, 2019, in time for the company’s planned first availability of UDENYCA™. “We greatly appreciate CMS’ rapid issuance of our Q-Code in just 13 days,” said Denny Lanfear, Chairman, CEO and President of Coherus BioSciences. “We would like to thank CMS for its commitment in facilitating patients access to UDENYCA™ and for its support of biosimilars overall.” With the Q-Code in place, Coherus BioSciences is proceeding to apply to CMS for transitional pass-through payment status for hospital outpatient settings. “Successful approval of the Q-Code is good for everyone,” said Chris Thompson, Senior Vice President of Sales at Coherus BioSciences. “We look forward to UDENYCA™ providing more options for healthcare providers, while enabling all insured patients to have access to UDENYCA™.” “We continue to progress toward achievement of a robust UDENYCA™ launch on January 3, 2019,” said Mr. Lanfear. “The Apexus agreement and Q-Code issuance are two important initial components for bringing choice and significant value to patients, payors and providers across the U.S.” Neulasta® is a Registered Trademark of Amgen Inc. About Coherus BioSciences, Inc. Coherus 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 is positioned as a leader in the global biosimilar marketplace. Coherus has received regulatory approval for UDENYCA™ (pegfilgrastim-cbqv) in the U.S. and European Union and is advancing two late-stage clinical products towards commercialization, CHS-1420 (adalimumab biosimilar) and CHS-0214 (etanercept biosimilar), and developing a robust pipeline of future products in ophthalmology (including CHS-3351, a ranibizumab biosimilar, and CHS-2020, an aflibercept biosimilar), as well as CHS-131, a small molecule for nonalcoholic steatohepatitis (NASH) and multiple sclerosis. For additional information, please visit www.coherus.com. CONTACT: David S. Arrington About the Apexus 340B Prime Vendor Program CONTACT: Steve Campanini |