Kamada Receives Additional Shire Milestone

Kamada Ltd., a plasma-derived protein therapeutics company, received an undisclosed additional milestone payment under its supply and distribution agreement with Shire for GLASSIA, Kamada’s intravenous (IV) alpha-1 antitrypsin (AAT). The payment was triggered by Shire achieving a sales milestone for GLASSIA in the U.S.

Shire is Kamada’s strategic partner for the exclusive supply and distribution of GLASSIA for all intravenous (IV) indications in the U.S., Canada, Australia, and New Zealand. The companies’ most recent contract extension, signed in October 2016, represented the fourth contract extension for the manufacture and supply of GLASSIA. Kamada’s minimum revenue for GLASSIA for the years 2017 to 2020 will reach approximately $237 million, and may be expanded to as much as $288 million during that period.

"We are pleased to receive this milestone payment," said Amir London, chief executive officer of Kamada.  "Shire continues to achieve the sales milestones related to GLASSIA under our agreement, indicating the growing demand for the product in the U.S.  This trend continues to support our ability to achieve our forecast to grow Kamada's total revenue to $100 million this year out of which $76 to $78 million will come from our Proprietary Products segment representing at least 36% growth year-over-year compared to 2016."