Basilea buoyed by sales increase
pharmafile | September 1, 2009 | News story | Research and Development, Sales and Marketing |Â Â BasileaÂ
Swiss pharma company Basilea Pharmaceutica has unveiled encouraging interim financial results, showing it has doubled its sales and decreased its losses.
The good news reflects growth in its two marketed products Toctino, for chronic hand eczema and the antibiotic Zeftera/Zevtera (ceftobiprole).
Basilea is focused on preparing additional Toctino launches in Europe and Canada, gaining approval for ceftobiprole in key markets and advancing its broad-spectrum antifungal isavuconazole, which is currently in phase III trials.
Combined cash and short-term investments amounted to CHF 224.9 million ($210 million) at the end of June, compared to CHF 293.6 million ($274 million) at the end of 2008.
Revenue and other income increased to CHF 12.2 million compared to CHF 5.3 million in the prior year, mainly as a result of increased product sales after the successful launch of Toctino in Europe.
R&D costs were down slightly at CHF 44.5 million in the first half of 2009 reflecting the continuous investment in phase III trials of isavuconazole and Toctino in the US.
General and administrative costs increased to CHF 34.8 million compared to CHF 29.4 million in the first half of 2008 due to investments in the marketing of Toctino.
The product is an oral treatment for patients suffering from severe chronic hand eczema that does not respond to potent topical corticosteroid therapy.
"We have reached a new milestone for Basilea as we report for the first time full six months product sales," stated Dr Anthony Man, chief executive. "We aim to expand the availability of Toctino in second half 2009 and are working together with Johnson & Johnson PRD towards ceftobiprole regulatory approval in key markets.
"We remain focused on our key value drivers and on successfully advancing the priority clinical programmes of our innovative pipeline."
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