** Shares of Coherus BioSciences CHRS.O jump 20% to $1.64 premarket
** Co to divest its biosimilar Udenyca in a deal with India's Intas Pharmaceuticals for up to $558.4 million, including an upfront payment of $483.4 million
** Udenyca is the copycat version to Amgen Inc's AMGN.O infection-fighting treatment Neulasta
** CHRS plans to focus on its approved cancer treatment Loqtorzi
** CHRS plans to use proceeds from the deal to fund development of combination therapies with Loqtorzi and repay the company's $230.0 million in existing convertible notes due April 2026
** Up to last close, CHRS down ~59% YTD
(Reporting by Mariam Sunny in Bengaluru)
((Mariam.ESunny@thomsonreuters.com;))
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