Kamada Ltd. (TASE: KMDA) has successfully completed its commitments defined as the second milestone set out in its licensing agreement with Baxter Healthcare Corporation ahead of schedule.
Meeting the milestone means that Kamada will receive payment from Baxter under the terms of their agreement.
In August 2010, Kamada licensed production, further development, and marketing of its drug, Glassia, an intravenous treatment for congenital respiratory diseases, such as emphysema, to Baxter. The agreement also covers other intravenous products under development by Kamada.
Kamada's share price rose 0.6% in morning trading to NIS 29.28, giving a market cap of NIS 803 million.
Published by Globes [online], Israel business news - www.globes-online.com - on March 23, 2011
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