Kamada Ltd. (TASE: KMDA) has initiated shipments to the US of its treatment for congenital respiratory diseases, such as emphysema. The drug is called Glassia.
Baxter Healthcare Corporation will handle the shipments, with additional shipments depending on Baxter's orders under the terms of the distribution agreement with Kamada.
Glassia is an intravenous AAT (Alpha-1 Antitrypsin) gene replacement therapy for congenital respiratory diseases. Kamada estimates its revenue through the end of 2010 from Glassia deliveries to Baxter and first milestone payments at $10 million. This figure is in addition to the $20 million received from Baxter when the distribution agreement was signed.
Baxter Healthcare Corporation is a unit of Baxter International Inc. (NYSE: BAX). In August, Baxter acquired the exclusive commercial rights to Glassia in the US, Canada, Australia, and New Zealand.
Kamada's share price rose 1.4% by midday to NIS 25.17, giving a market cap of NIS 674 million.
Published by Globes [online], Israel business news - www.globes-online.com - on October 17, 2010
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