Healthcare company Kamada Ltd. (TASE: KMDA), having reported in August an agreement to give Baxter International Inc. (NYSE: BAX) exclusive commercial rights to Glassia, its intravenous AAT medication, in the US, Australia, New Zealand and Canada, met last week with a Baxter executive, apparently to discuss the inhalable version of the medicine.
Baxter Global BioPharmaceuticals president Larry Guiheen visited Kamada's offices and factory in Israel last week, meeting with senior executives, including Kamada CEO David Tsur.
Inhalable AAT replacement therapy is in Phase II/III clinical trials in Europe.
A market source who spoke to "Globes" said, "Guiheen's visit says it all: Baxter is trying to accelerate as much as possible the completion of the next stage of the deal, regarding inhalation, and the sooner the better. Kamada, for its part, is trying obviously to maximize the payment for the next stage, and estimates are that we are talking about nice multiples above the amount of the first agreement.
Kamada's therapies are used to treat individuals with emphysema due to congenital deficiency of alpha1-proteinase inhibitor, also known as alpha1-antitrypsin (AAT) deficiency.
Kamada shares rose 1% on Thursday, and were up 3% by midday today.
Published by Globes [online], Israel business news - www.globes-online.com - on October 10, 2010
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