Pfizer Wins China & Asia-Pacific Rights To Anti-Fungal Drug
Zacks Investment Research | Dec 03, 2017 09:03PM ET
Pfizer Inc. (NYSE:PFE) announced that it has bought exclusive rights to develop and commercialize Swiss company Basilea Pharmaceutica’s anti-fungal treatment, Cresemba (isavuconazole), in China and other countries in the Asia-Pacific region.
Notably, Cresemba is an intravenous (IV) and oral azole antifungal therapy, presently marketed in the United States as well as the EU for treating two serious infections, invasive aspergillosis and invasive mucormycosis.
Per the deal, Pfizer will be exclusively entitled to distribute and commercialize Cresemba across 16 Asia-Pacific countries and China including Hong Kong and Macao. Significantly, the financial terms of the agreement were not disclosed by the company. However, Pfizer does not own any marketing rights in Japan, which too lies in the Asia-pacific belt.
Shares of the company have risen 11.9% so far this year, underperforming the Zacks Investment Research
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