Basilea Pharmaceutica said Thursday its licensing partner Pfizer recently launched the antifungal drug Cresemba (isavuconazole) in Spain. Pfizer is now commercializing the product in the major EU markets and Austria.
In addition, Swissmedic approved Cresemba for the treatment of adult patients with invasive aspergillosis and for the treatment of adult patients with mucormycosis for whom amphotericin B is inappropriate.
David Veitch, Chief Commercial Officer of Basilea, said: “Cresemba’s launch in Spain by our licensing partner Pfizer is an important step in expanding the availability of this important treatment option to even more patients across Europe who are suffering from invasive aspergillosis and mucormycosis. These are severe mold infections that predominantly affect immunocompromised patients, such as patients with cancer and after transplantation. In addition, we are very pleased with the progress we have made in transitioning Cresemba to our partner Pfizer. The two organizations have successfully completed the transition of commercialization responsibilities in the markets in Europe where Cresemba was previously marketed by Basilea.”
The company noted that in July, Basilea had completed an exclusive license agreement with Pfizer for Cresemba in Europe (excluding the Nordics), Russia, Turkey and Israel. Basilea received an upfront payment of CHF 70 million and is also eligible to receive up to $427 million in additional payments upon achievement of pre-specified regulatory and sales milestones. In addition, Basilea said it will also receive royalties in the mid-teen range on Pfizer’s sales.