Basilea Receives $25 Mln Milestone Payment Following Strong Cresemba Sales Performance In Europe

(RTTNews) - Basilea Pharmaceutica Ltd announced that sales of the antifungal Cresemba (isavuconazole) by its license partner Pfizer in Europe have exceeded the threshold that triggered a milestone payment of $25 million to Basilea.

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.

According to the latest available market data, total global in-market sales of Cresemba amounted to $489 million in the 12 months between April 2023 and March 2024, a 24 percent growth year-on-year.

Isavuconazole is an intravenous 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 and Norway, isavuconazole is approved for patients aged from 1 year of age and older for the treatment of invasive aspergillosis and for the treatment of mucormycosis in patients for whom amphotericin B is inappropriate.

Isavuconazole is also approved in the United States and several additional countries in Europe and beyond, including the U.K., China and Japan. It has orphan drug designation in the US, Europe and Australia for its approved indications.