Basilea’s Antifungal Drug Cresemba Surpasses Sales Threshold in Asia Pacific, Triggering $1.25 Million Milestone Payment

Basilea’s Antifungal Drug Cresemba Surpasses Sales Threshold in Asia Pacific, Triggering $1.25 Million Milestone Payment

(IN BRIEF) Basilea Pharmaceutica Ltd, a biopharmaceutical company dedicated to addressing severe bacterial and fungal infections, has announced that its antifungal medication, Cresemba® (isavuconazole), has achieved robust sales performance in the Asia Pacific region and China through its licensing partner, Pfizer Inc. This performance has exceeded the sales threshold, leading to the triggering of a $1.25 million milestone payment. Cresemba’s continued success highlights its role in addressing critical medical needs and underscores its commercial potential in this region. The licensing agreement between Basilea and Pfizer covers Europe (excluding the Nordic countries) and 16 countries in the Asia Pacific region and China. Cresemba is approved in 76 countries and is currently available in 71 countries worldwide, with global in-market sales amounting to USD 421 million, reflecting a 19 percent year-on-year growth from July 2022 to June 2023.

(PRESS RELEASE) ALLSCHWIL, 20-Nov-2023 — /EuropaWire/ — Basilea Pharmaceutica Ltd, Allschwil (SIX: BSLN), a commercial-stage biopharmaceutical company committed to meeting the needs of patients with severe bacterial and fungal infections, announced that the continued strong sales performance of the antifungal Cresemba® (isavuconazole) by its license partner Pfizer Inc. (NYSE: PFE, “Pfizer”) in the Asia Pacific region and China exceeded the sales threshold triggering a further USD 1.25 million milestone payment.

David Veitch, Basilea’s Chief Executive Officer, stated: “This marks the third sales milestone payment for Asia Pacific and China this year. It highlights that Cresemba continues to serve a high medical need and also reflects the significant commercial potential of Cresemba in this region. We are pleased to see that Cresemba is well on track to become a leading global brand for the treatment of patients with invasive mold infections.”

The license agreement between Basilea and Pfizer for Cresemba covers Europe (excluding the Nordic countries) as well as 16 countries in the Asia Pacific region and China.

Cresemba is approved in 76 countries to date and is currently marketed in 71 countries, including the United States, most EU member states and additional countries inside and outside of Europe. According to the latest available market data, total global in-market sales of Cresemba in the twelve months between July 2022 and June 2023 amounted to USD 421 million, a 19 percent growth year-on-year.1

About Isavuconazole (Cresemba®)

Isavuconazole is an intravenous (i.v.) and oral azole antifungal, commercialized under the trade name Cresemba®. Basilea has entered into several license and distribution agreements for isavuconazole covering approximately 115 countries. In the 27 European Union member states, as well as in Iceland, Liechtenstein, Norway and the U.K., isavuconazole is approved for the treatment of adult patients with invasive aspergillosis and for adult patients with mucormycosis for whom amphotericin B is inappropriate.2 In China, the oral and intravenous formulations are approved for the treatment of adult patients with invasive aspergillosis and invasive mucormycosis. Isavuconazole is also approved in the United States and several additional countries in Europe and beyond, including Japan.3 It has orphan drug designation in the US, Europe and Australia for its approved indications.

About Basilea

Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. We are committed to discovering, developing and commercializing innovative drugs to meet the needs of patients with severe bacterial or fungal infections. We have successfully launched two hospital brands, Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. In addition, we have preclinical and clinical anti-infective assets in our portfolio. Basilea is listed on the SIX Swiss Exchange (SIX: BSLN). Please visit basilea.com.

Disclaimer

This communication expressly or implicitly contains certain forward-looking statements, such as “believe”, “assume”, “expect”, “forecast”, “project”, “may”, “could”, “might”, “will” or similar expressions concerning Basilea Pharmaceutica Ltd, Allschwil and its business, including with respect to the progress, timing and completion of research, development and clinical studies for product candidates. 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, Allschwil to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Basilea Pharmaceutica Ltd, Allschwil 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.

Media Contact:

Peer Nils Schröder, PhD
Head of Corporate Communications & Investor Relations
Phone: +41 61 606 1102
E-mail: media_relations@basilea.com
investor_relations@basilea.com

SOURCE: Basilea Pharmaceutica Ltd