
Basilea Announces Distribution Agreements with Pfizer and Avir Pharma Inc
Basilea Pharmaceutica International Ltd. entered into a distribution and license agreement with Pfizer and Avir Pharma Inc. to distribute Basilea’s antifungal treatments.
On June 14, 2017, Basilea Pharmaceutica Ltd.
Under the terms of the agreement with Pfizer, Basilea will receive an upfront payment of CHF 70 million (US$72 million) and will be eligible to receive up to US$427 million in additional payments upon achievement of prespecified regulatory and sales milestones. In addition, Basilea will also receive royalties on Pfizer's sales in the territory.
"This collaboration will allow us to further optimize the value of this key asset in an important region of the world. The transaction will provide Basilea with additional financial flexibility to pursue targeted transactions to strengthen our two portfolio pillars focused on overcoming resistance: anti-infectives and oncology. Basilea continues to demonstrate its ability to complete innovative transactions that optimize the value of our company for shareholders," said Ronald Scott, Chief Executive Officer of Basilea, in a press release.
Basilea also
“Cresemba and Zevtera are clearly differentiated hospital products potentially addressing significant medical needs of patients who are suffering from severe microbial infections. We look forward to bringing our products to patients in Canada through our partnership with Avir which has a strong presence in the specialty care market," said David Veitch, Basilea's chief commercial officer, in a press release.
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