Skip to main content

Continued strong Cresemba® (isavuconazole) sales trigger second sales milestone this year from Pfizer to Basilea of USD 7 million

Written by Customer Service on . Posted in Public Companies.

Basel, Switzerland, December 06, 2019 – Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today that sales of the antifungal Cresemba® (isavuconazole) by Pfizer in Europe and Israel exceeded the threshold triggering a sales milestone payment to Basilea of USD 7 million.Basilea is entitled to receive sales milestone payments upon Pfizer’s cumulative Cresemba sales in Pfizer’s licensed territories exceeding certain thresholds. The first sales milestone was triggered early in 2019 and amounted to USD 5 million. Pfizer is currently commercializing Cresemba in many European countries, including France, Germany, Italy, Spain and the U.K, as well as in Israel and in Singapore, the first launched country in the Asia Pacific region.David Veitch, Chief Executive Officer of Basilea, said: “We are very pleased that the continued strong sales performance of Cresemba has now triggered the second sales milestone from Pfizer this year. This confirms that Cresemba is addressing a high medical need and we look forward to making this important antifungal treatment available to patients in a rapidly increasing number of countries around the world.”In June 2017, Basilea signed a license agreement for Cresemba with Pfizer for Europe (excluding the Nordics), Russia, Turkey and Israel. This agreement was amended in December 2017 to include China (with Hong Kong and Macao) and sixteen countries in the Asia Pacific region. Under the agreements with Pfizer, Basilea is still eligible for regulatory and sales milestone payments of up to USD 638 million, in addition to receiving mid-teen royalties on sales.For the 12-month period of July 2018 to June 2019, global “in-market” sales of Cresemba by all of Basilea’s partners, amounted to approximately 180 million U.S. dollars, a more than 35 percent growth year-on-year.1About Cresemba (isavuconazole)Isavuconazole is an intravenous (i.v.) and oral azole antifungal, commercialized under the trade name Cresemba. In the 28 European Union member states, as well as in Iceland, Liechtenstein and Norway, isavuconazole is approved for the treatment of adult patients with invasive aspergillosis and for the treatment of adult patients with mucormycosis for whom amphotericin B is inappropriate.2 Cresemba is also approved in the United States and several additional countries in Europe and beyond. It has U.S. and European orphan drug designation for its approved indications. Basilea has entered into several license and distribution agreements for isavuconazole covering the United States, Europe, China, Japan, Latin America, Asia-Pacific, the Middle East and North Africa region, Canada, Russia, Turkey and Israel.3About BasileaBasilea Pharmaceutica Ltd. is a commercial stage biopharmaceutical company, focused on the development of products that address the medical challenges in the therapeutic areas of oncology and anti-infectives. With two commercialized drugs, the company is committed to discovering, developing and commercializing innovative pharmaceutical products to meet the medical needs of patients with serious and life-threatening conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel, Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional information can be found at Basilea’s website www.basilea.com.DisclaimerThis communication expressly or implicitly contains certain forward-looking statements concerning Basilea Pharmaceutica Ltd. and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of Basilea Pharmaceutica Ltd. to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd. is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.For further information, please contact:This press release can be downloaded from www.basilea.com.References1   IQVIA, July 2019. In-market sales reported as moving annual total (MAT) in U.S. Dollar corrected for currency fluctuations.2   European Public Assessment Report (EPAR) Cresemba: http://www.ema.europa.eu
[Accessed: December 05, 2019]3   The registration status and approved indications may vary from country to country.AttachmentPress release (PDF)

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.