NewsView printer-friendly version
Coherus BioSciences Provides First Quarter 2020 Financial Update and Fiscal Year 2020 COVID-19 Impact Insights
First Quarter 2020 Financials and Update
The Company expects preliminary unaudited first quarter 2020 net product revenue to be between
First quarter 2020 showed good unit growth for the pegfilgrastim class with the last four weeks of March having 6% growth over the previous four weeks according to the IQVIA
Second Quarter 2020 and Second Half 2020 Insights
There are reasons to expect that the adverse effects we are experiencing and expect to continue to experience from COVID-19 in the second quarter and second half of 2020 will be transient and most significant during the period that the COVID-19 pandemic is having its greatest impact on the medical system and personal behaviors. We expect that patients and physicians will balance the need for the administration of drugs, such as pegfilgrastim, which are indicated for curable cancer treatment or other serious diseases against the risks associated with COVID-19.
Patients who have already initiated chemotherapy, especially with curative intent, appear to be continuing on therapy, as any dose reduction or delay could have a significant impact on survival.
Coherus believes referrals and cancer diagnoses could recover as referring providers determine ways to navigate the new environment and previously delayed treatments are initiated.
“We think it’s important when projecting second quarter COVID-19 impact to look primarily at recent pegfilgrastim sales and demand data in the context of current customer feedback, and not to impute trends from other drugs such as antiemetics. Additionally, any preliminary usage trends for such drugs at an early stage of the Covid-19 crisis may not be good predictive models for overall pegfilgrastim use, or pegfilgrastim use during the second quarter of 2020,” stated
Declines in referrals and cancer diagnoses are potentially compensated for by revised National Comprehensive Cancer Network (“NCCN”) treatment guidelines that recommend growth factor use in chemotherapy regimens where there is at least a 10% risk of febrile neutropenia. This new guidance expands the previous guidelines of a greater than 20% risk of febrile neutropenia, thereby potentially increasing overall usage of pegfilgrastim.
Coherus is a leading biosimilar company that develops and commercializes its own high-quality therapeutics as well as those of others seeking capable access to
Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, Coherus’ expectations regarding the continued adoption of UDENYCA® in the
In addition, with respect to COVID-19, we are currently unable to reasonably estimate the extent or duration of the impact of the COVID-19 pandemic on our financial and operating results. We are also unable to predict how the pandemic will affect the availability of physicians and/or their treatment prioritizations or the impact of the outbreak on the overall healthcare infrastructure. In addition to impact on sales volumes, we are experiencing and may experience other disruptions as a result of the COVID-19 pandemic, including restrictions on the ability of Company personnel to travel and access customers; delays in approvals by regulatory bodies; delays in product development efforts; and additional government requirements to “shelter in place” or other mitigation efforts that may further impact our or our suppliers’ capacity to manufacture and sell UDENYCA®. The total impact of these disruptions could have a material impact on our financial condition, cash flows and results from operations.
UDENYCA® is a trademark of
Investor Relations & Corporate Affairs
+1 (650) 395-0196
Source: Coherus BioSciences, Inc.