Basilea Announces Milestone as Cresemba (Isavuconazole) Sales in Asia Pacific and China Trigger Additional $1.25M Payment from Pfizer
Portfolio Pulse from Benzinga Newsdesk
Basilea Pharmaceutica announced a $1.25M milestone payment from Pfizer due to strong sales of antifungal Cresemba in Asia Pacific and China. This is the third milestone for the region this year, reflecting Cresemba's commercial potential and status as a leading brand for invasive mold infections. Cresemba is approved in 76 countries and marketed in 71, with a 19% year-on-year growth reaching $421M in sales.
November 20, 2023 | 7:25 am
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Pfizer's strong sales of Cresemba in Asia Pacific and China have triggered a $1.25M payment to Basilea, indicating robust performance and market growth for the antifungal medication.
The milestone payment suggests that Cresemba is performing well in the Asia Pacific and China markets, which could positively influence Pfizer's revenue stream from this product. The consistent achievement of sales milestones and the reported 19% year-on-year growth in global sales are likely to be viewed positively by investors, potentially leading to a short-term uptick in Pfizer's stock price.
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