Basilea Pharmaceutica has announced the FDA approval of its second lead asset, Zevtera (ceftobiprole), for the treatment of severe bacterial infections (three indications), marking a major commercial win. The US is the most commercially lucrative market for Zevtera, accounting for 85–90% of its total market potential. Zevtera is already approved in several countries (including in Europe) and the FDA nod is based on three Phase III studies (including the ERADICATE and TARGET studies with R&D partly funded by the BARDA). Note that the drug holds the Qualified Infectious Disease Product (QIDP) designation, which will provide up to 10-years of market exclusivity following approval. As Edison Group await more details on the US commercial partner (expected by mid-2024), they upgrade their US probability of success (PoS) to 100%, bumping their valuation to CHF1,008.6m or CHF84.0/share (from CHF80.7/share).
4 April 2024
