Basilea Pharmaceutica Ltd (SIX: BSLN), a commercial-stage biopharmaceutical company, announced today that the sales of the antifungal Cresemba® (isavuconazole) by its license partner Pfizer Inc. (NYSE: PFE, “Pfizer”) in the Asia Pacific region, exceeded the threshold triggering the first sales milestone payment for this region of USD 1.25 million.
David Veitch, Basilea’s Chief Executive Officer, stated: “We are very pleased with the commercial progress of Cresemba, which has now triggered the first sales milestone payment from Pfizer for the Asia Pacific region. The continued growth in the established markets in the US and Europe and the increasing contributions from new regions, such as Asia Pacific, confirm that Cresemba is serving a high medical need around the world.”
The license agreement between Basilea and Pfizer for Cresemba covers Europe (excluding the Nordic countries) as well as countries in the Asia Pacific region and China. Under the agreement with Pfizer, Basilea is eligible for additional regulatory and sales milestone payments of up to around CHF 550 million, in addition to receiving mid-teen royalties on sales.
Cresemba is approved in 68 countries to date and is currently marketed in 57 countries, including the United States, most EU member states and additional countries inside and outside of Europe. In the twelve months between January and December 2021, total global in-market sales of Cresemba amounted to USD 324 million, a 28 percent growth year-on-year.1
