Kamada Ltd. (TASE: KMDA) today published optimistic guidance for the fourth quarter of 2010. The company, run by CEO David Tsur, predicts $20 million revenue for the fourth quarter, including $4.5 million in orders for products in the past few days.
Kamada said that the orders are for immunoglobulin products, due to a temporary shortage in the Israeli market. The orders are scheduled for delivery during the fourth quarter.
Kamada has begun sales US sales, after signing a strategic agreement with Baxter Pharmaceuticals Inc. (NYSE: BAX) to market its Glassia intravenous treatment for congenital respiratory diseases, such as emphysema.
Kamada develops and produces proprietary intravenous and inhalable life-saving drugs. Orders received to date, and meeting additional milestones in the strategic agreement with Baxter, are expected to generate more than $10 million revenue by the end of 2010.
The agreement includes the following payments to Kamada: a $45 million milestone payment, a commitment to make a minimum of $60 million in purchases over the first five years of the agreement, and substantial royalties on future Glassia sales by Baxter.
Kamada's share price rose 4.8% by midday to NIS 25.64, giving a market cap of NIS 664 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 22, 2010
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