Yesterday, drug company Kamada Ltd. (TASE: KMDA) published a recall for one batch of a drug that it imports and markets in Israel. The product in question is Albiomin 20% from batch B235435 with an expiry date of 09/2018. The product is made by German company Biotest. Patients in possession of the product, which is prescribed for restoration and maintenance of circulating blood volume, are asked not to use it and to procure a new supply.
The drug is not produced by Kamada but only imported. Kamada's imported drug business represents about 44% of its activity, and Albiomin is a leading product in this sector. According to the company's announcement, only one batch of the product is suspect.
Kamada decided on the recall after doctors reported that several patients being treated with the drug said they had experienced fever and slight dizziness. Biotest has not received similar reports. Although the drug is given by injection in clinics and hospitals, Kamada decided to make an announcement to the public at large not to use it from the suspect batch, as some patients buy it and store it at home until they have to undergo the injection at a clinic.
Kamada's leading product is lung disease treatment Glassia, produced from blood plasma at its plant at Beit Kama in the Negev. The company reported a slight fall in second quarter revenue this year, by 1.2% to $19 million. In the first half year, the company's revenue grew 20% compared with the corresponding period of 2015 to $33.8 million, mainly thanks to the company's own manufactured products, sales of which grew by 46%.
The company posted a net loss for the second quarter of 2016 of $1.6 million, which compares with $2.3 million in the corresponding quarter. It reiterated guidance of $70-80 million revenue in 2016 and $100 million in 2017, a long-term projection first published two years ago.
Published by Globes [online], Israel business news - www.globes-online.com - on August 16, 2016
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