Basilea pockets €8,84M from milestone sales of antifungal Cresemba in the USDecember 10, 2018
The sale of antifungal Cresemba (isavuconazole) in the United States by Astellas Pharma, kicked off CHF 10 million (€8.84M) payment to the Swiss-based Basilea Pharmaceutica.
The payment is due to a calendar year, Basilea said Monday, which got A first milestone payment of of €4.42M (CHF 5 million) was received in October 2017. Basilea noted in its press release on Monday that it can still get up to €243M (CHF 275 million) in addition to royalties on U.S. sales.
Adesh Kaul, Chief Corporate Development Officer of Basilea, is pleased with the success of Cresemba, as the U.S. sales have brought two sales milestones in consecutive years, as stated in the company’s Monday press release. In the same announcement, he noted that there have been more than one million patient days of therapy in the U.S.. “Through our range of partnerships, covering more than 100 countries, we have been able to significantly broaden the potential geographic reach for this important treatment option. By the end of this year, Cresemba is expected to be available in more than 20 countries and over the course of the next three years this number is expected to more than triple,” said Kaul