Benzinga | Feb 17, 2021 10:00AM EST

FDA Accepts Coherus Biosciences' Adalimumab Biosimilar Application For Review

* The FDA has accepted for review Coherus BioSciences Inc's (NASDAQ: CHRS) marketing application for CHS-1420 and AbbVie's Inc (NYSE: ABBV) Humira (adalimumab) biosimilar product candidate, with action for December 2021.

* If approved, Coherus plans to launch the adalimumab biosimilar in the U.S. on or after July 1, 2023.

* The company says that annual U.S. Humira sales are projected to exceed $18 billion by the planned launch.

* Humira is indicated for a range of diseases.

* Price Action: CHRS shares are down 0.34% at $17.38 on last check Wednesday.