Basilea announces completion of the license agreement with Pfizer for antifungal Cresemba® for Europe, Russia, Turkey and Israel
(WorldNews Switzerland)

Basel, Switzerland, July 20, 2017 - Basilea Pharmaceutica Ltd. (SIX: BSLN) reported today that its license agreement with Pfizer Inc. (NYSE: PFE) for Basilea`s antifungal Cresemba (isavuconazole), which was announced on June 14, has completed and therefore will now be implemented. The agreement grants Pfizer the right to manufacture isavuconazole and to exclusively commercialize the drug in Europe (excluding the Nordics), Russia, Turkey and Israel. Basilea will receive an upfront payment of CHF 70 million. Basilea is also eligible to receive up to USD 427 million in additional payments upon achievement of pre-specified regulatory and sales milestones. In addition, Basilea will also receive...