09:21 AM EDT, 06/27/2024 (MT Newswires) -- Coherus BioSciences ( CHRS ) said Thursday it had agreed to sell its proprietary drug Yusimry to Hong Kong King-Friend Industrial for $40 million cash upfront.

HKF's subsidiary Meitheal Pharmaceuticals will continue to commercialize Yusimry, a treatment for various types of arthritis, in the US, Coherus said.

Coherus said the move was part of its efforts to focus its operations on oncology.

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