NEW YORK, NY, December 07, 2023 – PRISM MarketView, a leading provider of unbiased market insight and company news, highlights Kamada Ltd. (Nasdaq: KMDA), a commercial-stage global biopharmaceutical company with a portfolio of products for rare and serious conditions and a leader in the specialty plasma-derived field, today announced it has inked its largest commercial agreement to date, set to take effect in January 2024.
The binding memorandum of understanding with Kedrion expands U.S. distribution of KEDRAB®, a human rabies immune globulin which works immediately to stop the virus from spreading, and features $180 million in revenue over the first four years of the eight-year term.
A top mover in the PRISM MarketView Biotech Index, Kamada stock rose nearly 20 percent to $5.79 per share following the announcement.
The agreement with Kedrion, a biopharmaceutical company that produces and distributes worldwide plasma-derived therapies to treat and prevent serious diseases, for expanded U.S. distribution of KEDRAB® starts in January. It also includes potential expansion of Kedrion’s distribution of KEDRAB® in additional locations outside of the United States. The significant financial terms reflect the notable market share of KEDRAB® in the United States today; the companies will also collaborate on distribution of Kedrion’s products by Kamada in Israel.
During 2022, Kamada generated about $16 million in revenue from sales of KEDRAB® to Kedrion for U.S. distribution and anticipates a significant increase in sales when final 2023 numbers are reported.
“We are thrilled to secure this strategic agreement with Kedrion as it represents our largest commercial agreement since Kamada’s inception,” Kamada CEO Amir London said. “Based on Kedrion’s extensive market coverage and ongoing success in marketing KEDRAB in the U.S., as well as the significant market share growth achieved to date, we are confident that the continuation of this partnership maximizes the future growth and value potential of this important product. Moreover, this agreement most effectively maximizes our U.S. business by allowing us to focus our own internal sales efforts on the commercialization of our other specialized FDA-approved IgG products, primarily in transplant centers, while Kedrion continues to promote KEDRAB in numerous hospitals and medical centers across the U.S.”
To provide more insights into this landmark agreement and its implications, Kamada is set to host a conference call and live webcast. This event will offer shareholders and interested parties a platform to discuss the announcement in detail and address any queries.
For more information about Kamada and the PRISM Emerging Biotech Index, which tracks small and micro-cap stocks contributing to healthcare innovation and economic growth, visit https://prismmarketview.com/index/biotech/
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SOURCE: PRISM MarketView