(Reuters) -Coherus BioSciences said on Thursday it had agreed to retract a restraining order against AbbVie as the two fight over the terms of launching a lower-priced version of blockbuster rheumatoid arthritis drug Humira.
Earlier this month, Coherus had said it would launch a biosimilar version of AbbVie’s Humira, at an 85% discount to the list price of about $6,922, and partnered with Mark Cuban Cost Plus Drug Company to sell it at $569.27.
AbbVie had alleged a breach of an older agreement that granted Coherus a non-exclusive license to commercialize a biosimilar version of Humira in the United States from July 1.
In response, Coherus filed a restraining order against AbbVie to keep it from terminating the licensing deal.
This was followed by a preliminary injunction against Coherus, which still remains in place, though the companies have agreed that AbbVie would not terminate its licensing deal based on the notice.
Coherus’ shares fell 2.2% in morning trading.
The companies also agreed that AbbVie would have to serve another notice and give Coherus time to resolve the breach if it chooses to terminate the licensing agreement.
(Reporting by Manas Mishra in Bengaluru; Editing by Shinjini Ganguli)
