Basilea Pharmaceutica’s revenue in 2017 increased to CHF 101.5 million fromCHF 66.0 million in 2016, which represents an increase of 54% year-over-year, driven by product 130% sales increase from Cresemba and Zevtera of CHF 16.3 million from CHF 7.1 million.
The revenue increase was also pushed up by double gain from royalties on U.S. and European Cresemba sales by Basilea’s license partners of CHF 15.0 million , compared toCHF 7.3 million in 2016.
Furthermore, Basilea got closer to profitability with reported 7.5% cash and investments increase to CHF 310.7 million, and a -68% reduced operating loss from 2016, at CHF 14.1 million.
Chief Executive Officer Ronald Scott praised strategy in 2017 which was focused on maximizing the value of Cresemba and Zevtera through partnerships.
„We received approximately CHF 80 million in upfront payments from our new partners in 2017. Our license and distribution agreements now cover more than 100 countries worldwide. In addition, potential regulatory and sales milestone payments under our licensing agreements amount up to USD 1.1 billion“,. Scott said.
Basilea will focus on further growing revenue from Cresemba and Zevtera. „We expect our partners to launch in additional countries in Europe and other parts of the world in 2018, driving sustainable top-line growth.“
Basilea also plans to expand clinical programs in oncology as it has initiated patient recruitment in its ceftobiprole phase 3 program with the goal to enter the U.S. market. „We are actively exploring opportunities to further strengthen our pipeline in our focus areas of anti-infectives and oncology through internal and external innovation,” Scott said.