HQ Team
August 21, 2024: Switzerland’s Basilea Pharmaceutica Ltd. will receive $1.25 million from its partner Pfizer Inc. after the latter exceeded the sales target for a licensed anti-fungal drug in the Asia-Pacific region and China.
The Swiss biotechnology company stated that the milestone payment for its antifungal Cresemba (isavuconazole) came on a 24% sales growth year-on-year.
Total global in-market sales of Cresemba amounted to $489 million in the 12 months between April 2023, the company stated citing the latest available market data.
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.
Strong sales
Cresemba is approved and marketed in more than 70 countries, including the US, most EU member states and additional countries inside and outside of Europe.
“Achieving the threshold for the third milestone payment for Asia Pacific and China this year, underscores the strong sales performance and growth of Cresemba in this region,” said David Veitch, Basilea’s Chief Executive Officer.
“We are pleased that Cresemba continues to meet the medical needs of patients suffering from life-threatening invasive mould infections.”
Intravenous, oral
Isavuconazole is an intravenous and oral azole antifungal, commercialised 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 UK.
The Allschwil-headquartered company, founded in 2000 develops drugs to meet the needs of patients with severe bacterial or fungal infections.
The company’s Cresemba treats invasive fungal infections and Zevtera drug is meant for treating bacterial infections. Additionally, it has preclinical and clinical anti-infective assets in its portfolio.
Invasive aspergillosis
Isavuconazole is approved for the treatment of adult patients with invasive aspergillosis and for adult patients with mucormycosis for whom amphotericin B is inappropriate.
In China, the oral and intravenous formulations are approved for treating adult patients with invasive aspergillosis and invasive mucormycosis.
Isavuconazole is also approved in the US and several additional countries in Europe and beyond, including Japan. It has orphan drug designation in the US, Europe and Australia for its approved indications.
