Strong sales of Basilea’s Cresemba triggers second sales milestone payment from Pfizer
pharmafile | February 7, 2023 | News story | Sales and Marketing |
Swiss commercial-stage biopharmaceutical company Basilea Pharmaceutica Ltd has announced that continued high sales of its drug Cresemba (isavuconazole) in China and the Asia Pacific region has exceeded the payment milestone threshold, triggering a $1.25m payout from licence partner Pfizer.
Cresemba is an intravenous and oral azole antifungal. It is approved for the treatment of adult patients with invasive aspergillosis and mucormycosis (where amphotericin B is inappropriate) in the 27 EU member states, as well as Iceland, Lichtenstein, Norway and the UK. In China, it is indicated for patients with invasive aspergillosis and invasive mucormycosis and is also approved in the US, other European countries, and others such as Japan.
Basilea and Pfizer’s licence agreement for Cresemba covers Europe and countries in the Asia Pacific region and China. The deal also allows Basilea a further CHF 580m in additional regulatory and sales milestones payments, as well as mid-teen royalties.
David Veitch, Basilea’s Chief Executive Officer, stated: “We are very pleased that Cresemba sales in Asia Pacific and China are growing fast, resulting in the achievement of the second sales milestone payment within eight months and underscoring the significant commercial potential of the brand in this region. Cresemba is well on track to become a leading global brand for the treatment of patients with invasive mould infections.”