Basel, Switzerland, December 10, 2018 - Basilea Pharmaceutica Ltd. (SIX: BSLN) announced today that the sales of the antifungal Cresemba®
(isavuconazole) by Astellas Pharma Inc. ("Astellas") in the United
States exceeded the threshold triggering a milestone payment to Basilea
in the amount of CHF 10 million.
Basilea is
entitled to receive sales milestone payments from Astellas based on them
exceeding certain thresholds from the sales of Cresemba®
(isavuconazole) in the United States within a calendar year. A first
milestone payment in the amount of CHF 5 million was received in October
2017. Under the agreement with Astellas, Basilea is still eligible for
additional sales milestone payments of up to CHF 275 million in addition
to tiered, double-digit royalties on U.S. sales.
Adesh
Kaul, Chief Corporate Development Officer of Basilea, said: "We are
very pleased with the continued commercial success of Cresemba. The
strong U.S. sales ramp-up has resulted in two sales milestones being
achieved in consecutive years. Since launch, there have been more than
one million patient days of therapy in the U.S. alone, underscoring the
high medical need of patients suffering from invasive mold infections.
Through our range of partnerships, covering more than 100 countries, we
have been able to significantly broaden the potential geographic reach
for this important treatment option. By the end of this year, Cresemba
is expected to be available in more than 20 countries and over the
course of the next three years this number is expected to more than
triple."
About Cresemba (isavuconazole)
Isavuconazole
is an intravenous (i.v.) and oral azole antifungal, commercialized
under the trade name Cresemba. Cresemba is approved in the United States
for patients 18 years of age and older for the treatment of invasive
aspergillosis and invasive mucormycosis.1
Cresemba is also approved in the European Union and several additional
countries in and outside of Europe. It has U.S. and European orphan drug
designation for its approved indications. Basilea has entered into
several license and distribution agreements for isavuconazole covering
the United States, Europe, China, Japan, Latin America, Asia-Pacific,
the Middle East and North Africa region, Canada, Russia, Turkey and
Israel.2
About Basilea
Basilea
Pharmaceutica Ltd. is a commercial stage biopharmaceutical company
developing products that address the medical challenge of increasing
resistance and non-response to current treatment options in the
therapeutic areas of bacterial infections, fungal infections and cancer.
With two commercialized drugs, the company is committed to discovering,
developing and commercializing innovative pharmaceutical products to
meet the medical needs of patients with serious and life-threatening
conditions. Basilea Pharmaceutica Ltd. is headquartered in Basel,
Switzerland and listed on the SIX Swiss Exchange (SIX: BSLN). Additional
information can be found at Basilea's website www.basilea.com.
Disclaimer
This
communication expressly or implicitly contains certain forward-looking
statements concerning Basilea Pharmaceutica Ltd. and its business. Such
statements involve certain known and unknown risks, uncertainties and
other factors, which could cause the actual results, financial
condition, performance or achievements of Basilea Pharmaceutica Ltd. to
be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Basilea Pharmaceutica Ltd. is providing this communication as of this
date and does not undertake to update any forward-looking statements
contained herein as a result of new information, future events or
otherwise.
For further information, please contact:
This press release can be downloaded from www.basilea.com.
References
1 Cresemba U.S. prescribing information [Accessed: December 07, 2018]
2 The registration status and approved indications may vary from country to country.
