Basilea shares jump on antibiotic data

Shares of Switzerland's Basilea jumped to record heights after the drug developer announced positive results for a late-stage study of its experimental antibiotic, ceftobiprole. Overall, 91 percent of patients responded to the drug compared to 90 percent receiving a combinational therapy. About 86 percent of volunteers with a diabetic foot infection responded compared to 82 percent taking a comparative therapy. The cure rate for MRSA patients was 91 percent for ceftobiprole compared to 86 percent for a separate therapy. Analysts say that the drug has a good chance of quickly becoming a blockbuster therapy with more than a billion dollars in annual revenue. Antibiotics begin losing their effectiveness as soon as they're marketed and health officials are particularly concerned about the growth of MRSA and other superbugs.

- check out the press release
- here's the report on Basilea from MarketWatch