KMDA - Kamada Announces its Largest Commercial Agreement; A Strategic Engagement with Kedrion for U.S. Distribution of KEDRAB® including $180 Million of Revenues Over First Four Years | Benzinga
- Largest Commercial Agreement in Kamada's History Becomes Effective in January 2024 and Includes $180 Million of Revenues to Kamada Over the First Four Years of the Eight Year Term
- Financial Terms Reflect KEDRAB®'s Significant U.S. Market Share and Continued Growth Through the Eight Year Term
- Agreement Includes Potential Expansion of Kedrion's Distribution of KEDRAB in Additional Territories Beyond the U.S.
- Kamada to Host a Conference Call and Live Webcast Today at 8:30 AM ET
REHOVOT, Israel and HOBOKEN, N.J., Dec. 06, 2023 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ:KMDA, TASE: KMDA.TA)), a commercial stage global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived field, today announced the execution of a binding memorandum of understanding with Kedrion for the amendment and extension of the KEDRAB® U.S. distribution agreement between the parties. Within the first four years of the eight-year term, which begins in January 2024, Kedrion will purchase minimum quantities of KEDRAB with revenues to Kamada of approximately $180 million.
This agreement is the largest commercial agreement secured by Kamada to date, and its financial terms reflect the significant U.S. market share of KEDRAB and continued growth through the eight-year term, as well as the potential expansion of KEDRAB distribution by Kedrion to other territories beyond the U.S. In addition, the parties will collaborate to expand distribution of Kedrion products by Kamada in Israel.
"We are thrilled to secure this strategic agreement with Kedrion as it represents our largest commercial agreement since Kamada's inception," said Amir London, CEO of Kamada. "Based on Kedrion's extensive market coverage and on-going 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."
"We are excited about our extended partnership with Kamada, a significant step in our commitment to hyperimmune therapies," said Ugo Di Francesco, CEO of Kedrion Biopharma. "This collaboration emphasizes Kedrion's dedication to providing KEDRAB to U.S. patients, and we look forward to maximizing the success of the product and exploring opportunities for further expansion, delivering essential medical solutions where they are needed most."
During 2022, Kamada generated approximately $16 million in revenues from sales of KEDRAB to Kedrion for distribution in the U.S. market. Kamada expects a substantial increase in sales of the product to Kedrion for full-year 2023.
Conference Call
Kamada ...