Report

Moving on up

Basilea has made a solid start to the first half of 2016, with anti-microbial agents Cresemba and Zevtera continuing their respective European roll-outs. Ongoing dialogue with the FDA on the SPA protocol for Zevtera’s Phase III US clinical trial programme means US trials should initiate in H117. Together, these underpin the current valuation with upside potential from further partnering deals for Cresemba, Zevtera and the early-stage oncology pipeline, which in itself is making progress, albeit at an early stage. We value Basilea at CHF1,091m or CHF101/share.
Underlying
Basilea Pharmaceutica AG

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.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Susie Jana

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