Coherus BioSciences Announces Apexus Contract Agreement for 340B Hospitals and Clinics, and Q-Code Issuance from CMS
REDWOOD 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 access 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 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 coherus.com.
David S. Arrington
Vice President, Investor Relations & Corporate Affairs
Coherus BioSciences, Inc.
About the Apexus 340B Prime Vendor Program
Apexus serves as the government’s designated Prime Vendor for the 340B Drug Pricing Program. We provide access to discounted medications, education and compliance needs, and manufacturer refund services to nearly 40,000 health care facilities serving vulnerable populations. More information about the Prime Vendor Program is available at 340BPVP.com.
Vice President, Marketing and Public Affairs