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Currency in CHF
Last close As at 30/03/2023
CHF49.75
▲ 0.50 (1.02%)
Market capitalisation
CHF653m
Basilea Pharmaceutica is focused on treating infectious diseases. Its marketed products are Cresemba (an antifungal) and Zevtera (an anti-MRSA broad-spectrum antibiotic). The company plans to file for US approval for Zevtera.
There is an ever-increasing need for therapeutic agents that are efficacious against drug-resistant strains of bacteria (eg MRSA) or fungi. Hence the opportunities for Cresemba and Zevtera could be significant.
Managing Director - Head of Content, Healthcare
Adesh Kaul
CFO
David Veitch
CEO
Dung Tran
Investor relations coordinator
Forecast net cash (CHFm)
1.5
Forecast gearing ratio (%)
N/A
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | (4.7) | 7.8 | 31.1 |
| Relative | (3.5) | 6.8 | 47.3 |
| 52 week high/low | CHF55.2/CHF29.9 |
Basilea has announced that it has received a development-related milestone payment of CHF5m from its Japanese licensing partner, Asahi Kasei Pharma. This was triggered through the launch of Basilea’s flagship antifungal therapy, Cresemba, in Japan. Having been approved in 73 countries and marketed in 65, Cresemba is one of the major antifungal products on the market, capturing c 12% of global sales of best-in-class antifungals by end-2022. Japan is a key strategic territory for Basilea, representing c 4% of Cresemba’s future market potential, and the successful launch will help continue sales momentum and drive profitable growth in FY23, in our view.
| Y/E Dec | Revenue (CHFm) | EBITDA (CHFm) | PBT (CHFm) | EPS (CHFc) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2021A | 148.1 | 1.9 | (6.6) | (56.90) | N/A | N/A |
| 2022A | 147.8 | 19.6 | 12.3 | 104.10 | 47.8 | N/A |
| 2023E | 156.7 | 49.8 | 40.9 | 312.63 | 15.9 | N/A |
| 2024E | 180.7 | 66.8 | 62.0 | 473.38 | 10.5 | N/A |
