Basilea Pharmaceutica - Milestone march continues for Cresemba

Basilea Pharmaceutica has reported another US$1.25m milestone payment from its partner Pfizer in Asia-Pacific and China, triggered by Cresemba sales in this region crossing a pre-defined threshold. This is the fourth milestone payment for Cresemba from the region this year, adding to the already strong H2 results (c CHF33m/US$38.5m milestone payments recorded in H224 so far; CHF35m in 2024 to date). The Asia-Pacific region, particularly China (which accounts for c 20% of the market potential for Cresemba), is of key importance to Basilea, as its lead product approaches maturity in the US and European markets (exclusivity until late 2027). Note that Cresemba has recorded in-market sales of US$505m for the 12 months ending 30 June 2024, robust 20% y-o-y growth.