Basilea announces completion of the license agreement with Pfizer for antifungal Cresemba® for Europe, Russia, Turkey and Israel
(Thomson Reuters ONE) -
Basilea Pharmaceutica AG /
Basilea announces completion of the license agreement with Pfizer for antifungal
Cresemba® for Europe, Russia, Turkey and Israel
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The issuer is solely responsible for the content of this announcement.
Basel, Switzerland, July 20, 2017 - Basilea Pharmaceutica Ltd. (SIX: BSLN)
reported today that its license agreement with Pfizer Inc. (NYSE: PFE) for
Basilea's antifungal Cresemba (isavuconazole), which was announced on June 14,
has completed and therefore will now be implemented.
The agreement grants Pfizer the right to manufacture isavuconazole and to
exclusively commercialize the drug in Europe (excluding the Nordics), Russia,
Turkey and Israel. Basilea will receive an upfront payment of CHF 70 million.
Basilea is also eligible to receive up to USD 427 million in additional payments
upon achievement of pre-specified regulatory and sales milestones. In addition,
Basilea will also receive royalties in the mid-teen range on Pfizer's sales in
the territory.
About Cresemba (isavuconazole)
Isavuconazole is an intravenous (i.v.) and oral azole antifungal and the active
agent of the prodrug isavuconazonium sulfate. It received marketing
authorization in Europe for the treatment of adult patients with invasive
aspergillosis and for the treatment of adult patients with mucormycosis for whom
amphotericin B is inappropriate.(1) It is approved in the United States for
patients 18 years of age and older in the treatment of invasive aspergillosis
and invasive mucormycosis.(2) Isavuconazole has orphan drug designation for the
approved indications in Europe and the US. Isavuconazole is being marketed as
Cresemba in Germany, Italy, the UK, France and Austria. In the US, the drug is
marketed by Basilea's license partner Astellas Pharma US. Outside the US and the
EU, isavuconazole is currently not approved for commercial use. The European
marketing authorization is valid in all 28 European Union (EU) member states, as
well as in Iceland, Liechtenstein and Norway.
About Basilea
Basilea Pharmaceutica Ltd. is a 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. The company uses the integrated research,
development and commercial operations of its subsidiary Basilea Pharmaceutica
International Ltd. to discover, develop and commercialize 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.
About Pfizer / Pfizer Anti-Infectives
Working together for a healthier world(®)
At Pfizer, we apply science and our global resources to bring therapies to
people that extend and significantly improve their lives. We strive to set the
standard for quality, safety and value in the discovery, development and
manufacture of health care products. Our global portfolio includes medicines and
vaccines as well as many of the world's best-known consumer health care
products. Every day, Pfizer colleagues work across developed and emerging
markets to advance wellness, prevention, treatments and cures that challenge the
most feared diseases of our time. Consistent with our responsibility as one of
the world's premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and expand
access to reliable, affordable health care around the world. For more than 150
years, we have worked to make a difference for all who rely on us. We routinely
post information that may be important to investors on our website at
www.pfizer.com. In addition, to learn more, please visit us on www.pfizer.com
and follow us on Twitter at (at)Pfizer and (at)PfizerNews, LinkedIn, YouTube and like
us on Facebook at Facebook.com/Pfizer.
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:
+-------------------------------------------------------+
| Peer Nils Schröder, PhD |
| Head of Corporate Communications & Investor Relations |
| +41 61 606 1102 |
| media_relations(at)basilea.com |
| investor_relations(at)basilea.com |
+-------------------------------------------------------+
This press release can be downloaded from www.basilea.com.
References
1 European Public Assessment Report (EPAR) Cresemba: http://www.ema.europa.eu
[Accessed: July 19, 2017]
2 Cresemba US prescribing information [Accessed: July 19, 2017]
Press release (PDF):
http://hugin.info/134390/R/2121560/808447.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Basilea Pharmaceutica AG via GlobeNewswire
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