7 December 2017Asia-Pacific

Pfizer and Basilea extend Cresemba licence agreement to Asia-Pacific

Basilea Pharmaceutica and Pfizer have reached a deal for a licence agreement for the antifungal medication Cresemba to cover China and 16 countries in the Asia-Pacific region.

The deal comes five months after a similar agreement in Europe which gave Pfizer exclusive rights to Cresemba, which treats life-threatening invasive mould infections.

Basilea will receive an upfront payment of  $3 million under the terms of the agreement, “and is eligible to receive up to approximately $223 million additional payments upon achievement of pre-specified regulatory and commercial milestones related to China and the Asia-Pacific region”, the statement said.

In addition, the statement said Basilea will receive royalties “in the mid-teen range” on Pfizer’s sales in the territory.

“We are excited to extend our partnership with Basilea, a company that shares our passion and commitment to confronting the global challenges of infectious disease management,” said Suneet Varma, global president of Pfizer, Greater China and global brands.

She added: “We believe our extensive geographic footprint in China together with our expertise in commercialising innovative medicines will help enable us to continue to address the unmet medical needs of patients, especially in the area of anti-infectives.”

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