Basilea Highlights Cresemba® Sales Growth Triggering Milestone
![Basilea Highlights Cresemba® Sales Growth Triggering Milestone](https://investorshangout.com/images/blog/investors-hangout-newswire.jpg)
Strong Cresemba® Sales Performance Triggers Milestone Payment
Basilea Pharmaceutica Ltd, 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. in the Asia Pacific region and China exceeded the sales threshold triggering a USD 1.25 million milestone payment.
Comment from CEO David Veitch
David Veitch, Basilea’s Chief Executive Officer, stated: “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. We are pleased that Cresemba continues to meet the medical needs of patients suffering from life-threatening invasive mold infections.”
About Cresemba®
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 and marketed in more than 70 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 amounted to USD 489 million in the 12 months between April 2023 and March 2024, reflecting a 24 percent growth year-on-year.
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 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. 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 United States 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.
About Basilea
Basilea is a commercial-stage biopharmaceutical company founded in 2000 and headquartered in Switzerland. The company is committed to discovering, developing, and commercializing innovative drugs to meet the needs of patients with severe bacterial or fungal infections. Basilea has successfully launched two hospital brands: Cresemba for the treatment of invasive fungal infections and Zevtera for the treatment of bacterial infections. Additionally, Basilea has preclinical and clinical anti-infective assets in its portfolio. The company is listed on the SIX Swiss Exchange.
Contact Information
For further information, please contact:
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 milestone payment has Basilea received?
Basilea has received a milestone payment of USD 1.25 million due to strong sales performance of Cresemba in the Asia Pacific region and China.
Who is Basilea's license partner for Cresemba?
Pfizer Inc. is the license partner for Cresemba.
In how many countries is Cresemba approved?
Cresemba is approved and marketed in more than 70 countries worldwide.
What therapeutic indications does isavuconazole target?
Isavuconazole targets invasive aspergillosis and invasive mucormycosis in adults.
How does Basilea contribute to patient care?
Basilea develops and commercializes innovative drugs to meet critical medical needs for patients with severe infections.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Related Articles
- Projected Growth of the Software Market to USD 2.25 Trillion
- Digital Workplace Market Growth and Future Outlook
- Synthetic Biology Market Growth and Future Insights
- Acrylic Acid Esters Market Growth Insights and Trends
- ProVen Growth and Income VCT plc Announces Fundraising Plans
- Growth Insights for Global Pharma Grade Plastic Packaging Market
- Veterinary Vaccines Market Growth Insights and Trends
- Electric Bike Market Growth and Future Outlook
- SkyQuest Projects Rapid Growth in Intelligent Process Automation
- Rotator Cuff Injury Treatment Market Growth and Trends