Continued strong Cresemba® (isavuconazole) sales trigger second sales milestone this year from Pfizer to Basilea of USD 7 million
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.1
About 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.3
About Basilea
Basilea 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 .
Disclaimer
This 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:
| Peer Nils Schröder, PhD Head of Corporate Communications & Investor Relations |
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References
1 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:
[Accessed: December 05, 2019]
3 The registration status and approved indications may vary from country to country.
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