Intas Pharmaceuticals and Coherus BioSciences Inc.
Type: Purchase agreement
Buyer: Intas Pharmaceuticals
Seller: Coherus BioSciences Inc
Focus: Pegfilgrastim biosimilar (UDENYCA)
Deal value: $558.4 million
Financial impact: India's growing presence in the US biosimilars market is expected to drive revenue growth through Udenyca's impressive sales performance, range of administration options, and broader access to immune supportive care.
Accord BioPharma, the U.S. specialty division of Intas Pharmaceuticals, has expanded its FDA-approved product portfolio and strengthened its position in the biosimilar market with the acquisition of UDENYCA, a biosimilar to Neulasta (pegfilgrastim). UDENYCA is used to reduce the risk of infection, including febrile neutropenia, in patients with non-myeloid cancers undergoing myelosuppressive chemotherapy. Since its launch, it has treated an estimated 300,000 patients, with over 1.4 million units sold.
The acquisition also brings experienced talent from Coherus BioSciences, with key employees in Sales, Marketing, Finance, Supply Chain, and Manufacturing joining Accord BioPharma to ensure continuity and support further growth. This move not only enhances Accord’s biosimilar offerings but also reinforces its commitment to delivering high-quality oncology care.
Pegfilgrastim biosimilar (UDENYCA)
Intas Pharmaceuticals has developed a pegfilgrastim biosimilar for the treatment of chemotherapy-induced neutropenia. Designed to lower the risk of infection in patients with non-myeloid cancers receiving myelosuppressive chemotherapy, the drug targets febrile neutropenia—a serious treatment-related complication. Pegfilgrastim is a long-acting, pegylated form of filgrastim, a recombinant human granulocyte colony-stimulating factor, which stimulates the production and activation of neutrophils by binding to specific cell surface receptors on hematopoietic cells. Coherus BioSciences previously launched the biosimilar in the U.S. in multiple formats, including an on-body injector, prefilled syringe, and autoinjector. It is also approved in the EU, Liechtenstein, Norway, and Iceland.
Five years’ market revenue of Intas Pharmaceuticals
Intas Pharmaceuticals has demonstrated consistent revenue growth through 2024, driven by strong performance, particularly in its domestic market. However, the company may face a decline in revenue in 2025 due to several challenges. Regulatory issues, such as USFDA warning letters and import alerts, are expected to impact the company’s operations in key markets like the US and Europe. These regulatory hurdles, combined with broader financial performance pressures, could influence sales and overall revenue, marking a potential shift in the company’s financial trajectory.
Five years market revenue of Intas Pharmaceuticals (2020-2024)
Fig 22: Market revenue of Intas Pharmaceuticals
Market Impact of This Partnership
In the first quarter of 2025, Intas Pharmaceuticals made headlines with its $558 million acquisition of Udenyca from Coherus Biosciences, marking the largest M&A deal of the period and accounting for nearly 27% of total sector values. This acquisition highlights India's growing ambitions in the US biosimilars market. Udenyca, with its impressive sales performance and a range of administration options, offers significant strategic value. The product's ability to meet patients’ needs—such as offering an on-body injector for at-home use—enhances Intas' portfolio and allows for broader access to immune supportive care in various settings. As a result, Intas Pharmaceuticals is expected to see a boost in revenue from the increased sales of Udenyca, further strengthening its position in the US biosimilars space.
“Acquisition of Udenyca from Coherus Biosciences makes the largest M&A deal of the period, highlighting India’s growing ambitions in the US biosimilars market."