Basilea Pharmaceutica (BSLN)

Business description

Basilea focuses on anti-infectives and oncology. Lead products are Cresemba (an antifungal), which is approved in the US and Europe, and Zevtera (an anti-MRSA broad-spectrum antibiotic), approved in many European and non-European countries for pneumonia.

Stock data

Market cap.CHF918.8m
Last closeCHF77.50
High / Low (52 weeks)CHF91.0 / CHF66.7
Stock market listingSW
Forecast net cash (CHFm)34.3
Forecast gearing ratio (%)N/A
TeamHealthcare
SectorPharmaceutical & healthcare

Price performance

%1m3m12m
Actual(2.7)(9.3)8.7
Relative *(4.2)(11.3)(5)

* % Relative to local index

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Company news

Quant Scorecard Update and Review For Basilea Pharmaceutica AG (SWX:BSLN)

Mon, 23 Oct 2017 04:18:45 GMT

Basilea announces distribution agreement with Cardiome to commercialize ...

Tue, 12 Sep 2017 05:15:00 GMT

Basilea announces license agreement with Pfizer for antifungal Cresemba ...

Wed, 14 Jun 2017 17:15:00 GMT

Basilea names new member of its Extended Management Committee

Fri, 02 Jun 2017 05:15:00 GMT

Basilea reports solid 2016 results and expects to double product sales in 2017

Mon, 20 Feb 2017 06:11:15 GMT

Y/E Dec Revenue (CHFm) EBITDA (CHFm) PBT (CHFm) EPS (fd) (CHFc) P/E (x) P/CF (x)
2015A 52.8 (58.9) (61.3) (607.22) N/A N/A
2016A 66.0 (41.6) (50.9) (505.74) N/A N/A
2017E 92.4 (20.9) (28.6) (282.58) N/A N/A
2018E 82.2 (9.8) (17.7) (174.72) N/A N/A

Last updated on 11/10/2017

Investment summary

Basilea’s prognosis looks good. Multiple licensing/distribution agreements announced for launched assets Cresemba and Zevtera should drive top-line growth faster than we had expected. Major deals include; Cresemba in Europe (ex Nordics), Russia, Turkey and Israel with Pfizer (CHF70m upfront plus up to $427m in regulatory and sales milestones and mid-teen royalties), Zevtera in China with CR Gosun, and in Europe with Cardiome. These licensing and distribution deals validate the commercial potential for both assets and enable the financial fire power to bolster Basilea’s existing, innovative R&D pipeline (with a focus on cancer and anti-infective drug resistance). Our upgraded valuation is CHF1,188m or CHF110/share (excluding treasury shares) vs CHF1,048 previously.

Last updated on 11/10/2017

Industry outlook

There is an increasing need for novel antimicrobial agents with efficacy against resistant strains of bacteria (eg MRSA), and/or improved side effect profiles. Hence the opportunities for Zevtera and Cresemba could be significant.

Last updated on 03/10/2017

Key management

Ronald Scott, CEO
Donato Spota, CFO

Company address

Grenzacherstrasse 487
PO Box 4005
Basel
Switzerland
+41 61 606 11 11
View website