Strong Cresemba sales in the USA trigger first sales milestone payment to Basilea

Swiss drugmaker Basilea Pharmaceutica (SIX: BSLN) says that the sales of the antifungal Cresemba (isavuconazole) in the USA exceeded the threshold triggering the first sales milestone payment from licensee Astellas Pharma (TYO: 4503) to Basilea in the amount of 5 million Swiss francs ($5.1 million).

David Veitch, chief commercial officer of Basilea, said: "We are very pleased with the continued commercial success of Cresemba in the US reflecting the medical need for agents treating invasive aspergillosis and invasive mucormycosis in adults and the increasing importance of Cresemba in the treatment of adults suffering from these potentially life-threatening invasive fungal infections that predominantly affect immunocompromized patients, such as patients with cancer and after transplantation."

Under the agreement with Astellas, Basilea is still eligible for additional sales milestone payments of up to 285 million francs in addition to tiered, double-digit royalties on US sales. The drug was approved in the USA in March 2015.