Coherus Biosciences Inc. and Daiichi Sankyo Co. Ltd. terminated their contract regarding Coherus' Enbrel biosimilar product candidate CHS-0214.

The contract termination is due to Daiichi Sankyo's recent decision to discontinue development of CHS-0214 in Japan.

Coherus will not incur any early termination penalties.

Amgen Inc.'s Enbrel, or etanercept, is used to treat patients with moderately to severely active rheumatoid arthritis.