Basilea's Cresemba™ Sales Surge Leads to Major Milestone Payment
Significant Sales Growth for Cresemba™ in Europe
Basilea Pharmaceutica Ltd has announced a remarkable achievement related to its antifungal drug, Cresemba™ (isavuconazole). Sales of this drug, marketed in Europe through its licensing partner Pfizer, have surpassed expectations, resulting in a milestone payment of USD 25 million to Basilea. This strong performance showcases not only the increasing demand for effective antifungal treatments but also the ability of Basilea to fulfill critical medical needs for patients suffering from serious fungal infections.
CEO Commentary on Sales Performance
David Veitch, the Chief Executive Officer of Basilea, expressed his satisfaction with the ongoing success of Cresemba. He stated, “We are very pleased with the continued recognition of Cresemba in meeting the crucial medical needs of patients with life-threatening invasive mold infections. The increase in sales performance in Europe has directly contributed to this milestone payment.” Veitch further highlighted several previous milestone payments from sales in the Asia Pacific region and China, underlining the global success of Cresemba.
A Broad Reach Across Markets
Basilea’s strategic licensing agreement with Pfizer encompasses not only Europe, excluding the Nordic countries, but also extends to 16 countries in the Asia Pacific region and China. Such an extensive reach allows for wider accessibility of Cresemba, approved for use in over 70 countries worldwide. This includes major markets like the United States and various EU nations, significantly contributing to reported global sales which reached USD 489 million for the twelve months ending March 2024.
About Cresemba™ and Isavuconazole
Isavuconazole, marketed as Cresemba™, is an innovative azole antifungal available in both intravenous and oral formulations. It serves as an essential treatment option for invasive fungal infections, particularly for conditions such as invasive aspergillosis and mucormycosis. Basilea holds multiple license agreements covering isavuconazole across approximately 115 countries, ensuring its availability within the healthcare systems of different regions. In the EU, isavuconazole is approved for patients as young as one year old, underscoring its importance in pediatric care as well.
The Mission of Basilea Pharmaceutica
Basilea, established in 2000 and headquartered in Switzerland, focuses on the discovery and commercialization of novel therapeutics aimed at treating severe infections caused by bacteria and fungi. The company has successfully launched two primary products: Cresemba for fungal infections and Zevtera for bacterial infections. In addition to these, Basilea maintains a diverse portfolio that includes various preclinical and clinical anti-infective compounds, solidifying its commitment to addressing critical healthcare needs.
Get in Touch with Basilea
For those interested in learning more about Basilea and its products, here's the contact information:
Peer Nils Schröder, PhD
Head of Corporate Communications & Investor Relations
Basilea Pharmaceutica International Ltd
Hegenheimermattweg 167b
4123 Allschwil, Switzerland
Phone: +41 61 606 1102
Email: media_relations@basilea.com | investor_relations@basilea.com
Frequently Asked Questions
What is Cresemba™ used for?
Cresemba™ is an antifungal medication used to treat serious infections like invasive aspergillosis and mucormycosis.
Who is the licensing partner for Cresemba™ in Europe?
Pfizer is the licensing partner responsible for distributing Cresemba™ in Europe.
How much was the recent milestone payment to Basilea?
Basilea received a milestone payment of USD 25 million due to exceeding sales thresholds of Cresemba™.
In how many countries is Cresemba™ approved?
Cresemba™ is approved in more than 70 countries worldwide.
What are the primary focuses of Basilea Pharmaceutica?
Basilea focuses on developing and commercializing innovative treatments for severe bacterial and fungal infections.
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