Most of Kamada's revenue growth was due to US sales of Glassia, its intravenous protein therapy for congenital emphysema.
Drug developer Kamada Ltd. (TASE: KMDA) neared break-even point on higher revenue for the third quarter of 2012.
Revenue rose 32% to $17.7 million for the third quarter from $13.3 million for the corresponding quarter of 2011, and the net loss narrowed to $90,000 from $3.1 million. Excluding currency adjustments and losses on cash flow hedge deals, Kamada reported a net profit of $9,000 for the third quarter, compared with a net loss of $1.1 million for the corresponding quarter.
Most of Kamada's revenue growth was due to US sales of Glassia, its intravenous protein therapy for congenital emphysema. Glassia sales contributed to the growth of the company's industrial products revenue to $11 million for the third quarter from $7.3 million for the corresponding quarter.
Published by Globes [online], Israel business news - www.globes-online.com - on November 7, 2012
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