Sources inform ''Globes'' that AmerisourceBergen Corporation (NYSE: ABC) will be the US distributor for Kamada Ltd's (TASE: KMDA) intravenous AAT (Alpha-1 Antitrypsin) drug for congenital respiratory diseases, which received the commercial name "Glassia" earlier this week. AmerisourceBergen is one of the largest pharmaceutical and medical services distributors in North America and the UK.
Under the distribution agreement with Kamada, AmerisourceBergen has promised to sell at least $15 million worth of Glassia in the first 18 months after Kamada gets US Food and Drug Administration (FDA) marketing approval for the drug.
AAT is a replacement therapy in individuals lacking this protein, for treating chronic obstruction pulmonary disease (COPD), which can refer to congenital emphysema, and bronchiectasis, or both. The company is also testing the treatment for cystic fibrosis.
Kamada is undertaking a Phase II/III clinical trial of inhalable AAT in Europe. There is currently no equivalent treatment on the market, and inhaling the drug is both more convenient for patients and uses less of the active pharmaceutical ingredient. The company will probably have to carry out a separate Phase II clinical trial of inhalable AAT in the US.
Kamada declined to comment on the report.
Kamada's share price corrected downward today from yesterday's 11.5% jump, falling 5.2% to NIS 22.52, giving a market cap of NIS 636 million.
Published by Globes [online], Israel business news - www.globes-online.com - on May 11, 2010
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