Basilea set to get $226 million from expanded Cresemba deal

1 December 2017

Shares of Swiss drugmaker Basilea Pharmaceutica (SIX: BSLN) were up 2.05% at 77.00 Swiss francs in late afternoon trading today, after it announced an expansion of its licensing deal for its antifungal drug Cresemba (isavuconazole).

Basilea has amended its existing license agreement for Europe, Russia, Turkey and Israel with US pharma giant Pfizer (NYSE: PFE) to include China (with Hong Kong and Macao) and 16 countries in the Asia Pacific region.

Ronald Scott, chief executive of Basilea, said: "Cresemba is a well differentiated drug that addresses a critical medical need in patients with invasive mold infections. We are very pleased to be expanding our partnership with Pfizer to China and Asia Pacific where it has a strong commercial presence and a proven track record of successfully developing and commercializing hospital antifungals. We have now established partnerships for isavuconazole with leading pharmaceutical companies in all major markets around the world."

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