Basilea announced that license and commercialisaon partner China Resources Gosun Pharmaceucals Co. ("Gosun"), has received approval for anbioc Zevtera (ceobiprole) in China from the Naonal Medical Products Administraon ("NMPA"). We view approval in China as an importantstep in growing the sales contribuon from Zevtera, which has seen slower uptake than Basilea's anfungal Cresemba despite its strong clinical profile. Zevtera is already marketed in several key European regions alongside select countries in South America and MENA in addion to Canada, with launch in the US, the key market, expected in 2022E. We maintain and reiterate our OUTPERFORM recommendaon and target price ("TP") of CHF105, reasserng our opinion that the currentshare price does not reflect the full potenal of both Basilea's marketed assets and promising clinical-stage pipeline.
09 Nov 2020
Zevtera receives green light in China
Sign up for free to access
Get access to the latest equity research in real-time from 12 commissioned providers.
Get access to the latest equity research in real-time from 12 commissioned providers.
Zevtera receives green light in China
Basilea Pharmaceutica AG (0QNA:LON) | 0 0 0.0% | Mkt Cap: 605.3m
- Published:
09 Nov 2020 -
Author:
KIERON BANERJEE -
Pages:
5
Basilea announced that license and commercialisaon partner China Resources Gosun Pharmaceucals Co. ("Gosun"), has received approval for anbioc Zevtera (ceobiprole) in China from the Naonal Medical Products Administraon ("NMPA"). We view approval in China as an importantstep in growing the sales contribuon from Zevtera, which has seen slower uptake than Basilea's anfungal Cresemba despite its strong clinical profile. Zevtera is already marketed in several key European regions alongside select countries in South America and MENA in addion to Canada, with launch in the US, the key market, expected in 2022E. We maintain and reiterate our OUTPERFORM recommendaon and target price ("TP") of CHF105, reasserng our opinion that the currentshare price does not reflect the full potenal of both Basilea's marketed assets and promising clinical-stage pipeline.