Edison Issues Initiation on Basilea Pharmaceutica

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Our Basilea valuation is CHF1,114.0m or CHF103.2/share based on an NPV analysis, which includes the main portfolio of products and net cash. Cresemba, based on $600m peak sales, is worth nearly 60% of our rNPV and underpins >100% of the current market cap. We also include Zevtera in Europe, in addition to risk-adjusted contributions for the US opportunity and the earlier-stage pipeline. 

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SOURCE Edison Investment Research