Basilea Pharmaceutica - Cresemba expansion continues with Japan launch

Basilea has announced that it has received a development-related milestone payment of CHF5m from its Japanese licensing partner, Asahi Kasei Pharma. This was triggered through the launch of Basilea’s flagship antifungal therapy, Cresemba, in Japan. Having been approved in 73 countries and marketed in 65, Cresemba is one of the major antifungal products on the market, capturing c 12% of global sales of best-in-class antifungals by end-2022. Japan is a key strategic territory for Basilea, representing c 4% of Cresemba’s future market potential, and the successful launch will help continue sales momentum and drive profitable growth in FY23, in our view.