Kamada (KMDA)

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Kamada Announces Kedrion Exercised its Option for Two-Year Extension of KEDRAB® Distribution Agreement in the U.S.

https://finance.yahoo.com/news/kamada-announces-kedrion-exercised-option-110000325.html

The Extended Agreement Term is Until March 2026

The Company Generated Approximately $16 Million in Revenue from Sales of KEDRAB to Kedrion in 2022 and Anticipates a Significant Increase in 2023

REHOVOT, Israel, and HOBOKEN, N.J., July 12, 2023 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA) (“Kamada” or the “Company”), a commercial stage global biopharmaceutical company with a portfolio of marketed products indicated for rare and serious conditions and a leader in the specialty plasma-derived field, today announced that Kedrion has exercised its option to extend the distribution agreement between the parties in the U.S. for KEDRAB® (Rabies Immune Globulin [Human]), which is indicated for passive, transient post-exposure prophylaxis (PEP) of rabies infection to persons of all ages when given immediately after contact with a rabid or possibly rabid animal. The current agreement now extends through March 2026, and the companies are in discussions to potentially further expand the scope of the collaboration.

“We are pleased that Kedrion has exercised its option to extend this important distribution agreement for an additional two years,” said Amir London, CEO of Kamada. “Rabies is still present in the U.S and is transmitted by wild animals. Our collaboration with Kedrion contributed to the promotion of KEDRAB and, through disease awareness campaigns, we achieved substantial growth and gained share in the U.S. market, which is estimated to be over $150 million annually. During 2022, we generated approximately $16 million in revenues from sales of KEDRAB to Kedrion for further distribution in the U.S. market, and we anticipate a significant increase in sales of the product this year.”