Basilea Pharmaceutica - Cresemba milestone payment triggered
Basilea has announced that it has received a sales-related milestone payment of CHF20m from its US licensing partner Astellas Pharma. This was triggered by sales figures achieved in the US in 2022 for Basilea’s flagship antifungal therapy, Cresemba. It has now received a total of CHF50m in sales-related milestone payments from Astellas Pharma. As part of the agreement, Basilea is set to receive additional potential sales-based milestone payments of up to CHF240m, as well as double-digit royalties on US net sales. We maintain our valuation at CHF921.7m (CHF77.8 per share); however, we will update our figures once Basilea’s year-end results are announced in February.Basilea Pharmaceutica is an integrated biopharmaceutical company engaged in the discovery, development and commercialization of pharmaceutical products for the treatment of bacterial infections, fungal infections, oncology and skin diseases. Co. focuses on antibiotics and antifungals as well as oncology and dermatology drugs. Co.'s portfolio spans from innovative early-stage through clinical late-stage drug candidates to a marketed product. In the context of its international commercialization organization, Co. has subsidiaries in Denmark, France, Germany, Italy, Spain and the United Kingdom.
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