After obtaining marketing approval from Brazil's National Health Surveillance Agency (Anvisa) for its intravenous Alpha-1 Antitrypsin (AAT) protein for the treatment of congenital emphysema, Kamada Ltd. (TASE: KMDA) today announced that it has obtained export orders for AAT for the treatment of congenital emphysema and cystic fibrosis for patients lacking the AAT protein, type D emphysema, and to vaccinate against fetal hemolytic disease, a fatal blood disease.
Kamada estimates that its sales in Brazil will total NIS 15 million in 2010, including the present orders.
In a notice to the TASE in October 2009, Kamada said that its main target market for intravenous AAT was the US. For this purpose, the company recently signed a strategic agreement with a large US distributor.
Kamada president and CEO David Tsur said, "The Brazilian orders for intravenous AAT open a large potential market for the company. The fact that Kamada successfully sells its proprietary products in Brazil is a springboard for developing business and sales in Latin America's largest market. Kamada expects to obtain licensing for AAT in the US during the first half of 2010, and to begin sales in the second half of the year."
Kamada's share rose 5.1% in early trading on the TASE today to NIS 20.30, giving a market cap of nearly NIS 500 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2010
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