Switzerland-based Basilea Pharmaceutica Ltd (SWX: BSLN) announced that its antifungal Cresemba (isavuconazole), commercialized by Pfizer Inc. (NYSE: PFE), has achieved significant sales milestones in the Asia Pacific region and China. This performance has triggered a milestone payment of USD2.5 million to Basilea.
Drug Profile and Commercialization
Cresemba, co-developed with Japan’s Astellas Pharma Inc. (TYO: 4503), is an intravenous and oral azole antifungal with broad-spectrum activity. It is approved in multiple regions, including the US, China, and the European Union, for treating invasive aspergillosis and invasive mucormycosis.
Pfizer’s Commercialization Expansion
Pfizer initially secured commercialization rights for Cresemba in Europe (excluding the Nordic countries) in July 2017. This agreement was later expanded in December 2017 to include development, distribution, and marketing rights in China and 16 countries in the Asia Pacific region (excluding Japan).-Fineline Info & Tech
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