Basilea announces agreement with Innoviva Specialty Therapeutics for the commercialization of antibiotic Zevtera ® (ceftobiprole) in the United States

AI Sentiment: Bullish
Reason: Basilea Pharmaceutica has signed an agreement with Innoviva for the commercialization of its antibiotic Zevtera in the US, expanding the drug's availability and potentially boosting its profits.

Swiss pharmaceutical company Basilea Pharmaceutica Ltd has struck a deal with Innoviva Specialty Therapeutics for the commercialization of the antibiotic Zevtera (ceftobiprole) in the United States. This effectively expands the drug's availability beyond the European and Middle Eastern markets, where it is already being sold.

Zevtera is an antibiotic that is primarily used in the treatment of community- and hospital-acquired pneumonia, as well as skin and soft tissue infections. It is a broad-spectrum antibiotic, meaning it is effective against a wide range of bacteria. This makes it especially useful in cases where the specific pathogen causing an infection is not known.

The agreement between Basilea and Innoviva will see Innoviva purchasing the rights to sell Zevtera in the US, with Basilea receiving upfront payments as well as milestone payments based on sales targets. Innoviva will also be responsible for the commercial operations related to the drug in the US market, including sales and marketing, distribution, and customer support.

This move forms part of Basilea's strategic efforts to increase the global availability of its products. The company has already signed similar agreements in other regions, including Asia, Latin America, and the Middle East. The partnership with Innoviva is expected to significantly boost the drug's presence in the US, one of the world's largest pharmaceutical markets.

The global antibiotic market, already worth billions, is projected to grow further in the coming years. This is largely due to the increasing prevalence of antibiotic-resistant infections, which necessitate the development and use of new antibiotics such as Zevtera. The partnership between Basilea and Innoviva could therefore not only improve patient outcomes but also prove profitable for both parties.