$KMDA Kamada Enters into Two New Agreements for the Distribution of Three Biosimilar Products in Israel
REHOVOT, Israel, Jan. 13, 2021 (GLOBE NEWSWIRE) -- Kamada Ltd. (Nasdaq: KMDA; TASE: KMDA.TA), a plasma-derived biopharmaceutical company, today announced that the Company has entered into agreements with two undisclosed international pharmaceutical companies to commercialize three biosimilar product candidates in Israel. Subject to approval by the European Medicines Agency (EMA) and subsequently by the Israeli Ministry of Health (IMOH), the three products are expected to be launched in Israel between 2022 and 2024. The two pharmaceutical companies will maintain development, manufacturing, and supply responsibilities for these three products.
“These agreements expand our pipeline of biosimilar product candidates for distribution in Israel, which already includes six products previously licensed from Alvotech, and further position Kamada as a leader in the emerging biosimilar market in Israel,” said Amir London, CEO of Kamada. “The Israeli market for the referenced innovative products to which these three biosimilar products are targeted was between approximately $20-$25 million in 2019, and we estimate the potential collective maximum sales generated by the distribution of these three products, achievable following regulatory approval and within several years of launch, to be in the range of $5-$7 million annually. These sales will be in addition to the $20-$30 million of potential maximum sales of the six Alvotech biosimilar products, which, subject to approval by the EMA and subsequently by the IMOH, are expected to be launched between 2022 and 2025. The distribution of this biosimilar portfolio is expected to further support the anticipated future revenue and profitability growth in our Distribution Products segment.”
About KamadaKamada Ltd. (“the Company”) is a commercial stage plasma-derived biopharmaceutical company focused on orphan indications, with an existing marketed product portfolio and a late-stage product pipeline. The Company uses its proprietary platform technology and know-how for the extraction and purification of proteins from human plasma to produce Alpha-1 Antitrypsin (AAT) in a highly-purified, liquid form, as well as other plasma-derived immune globulins. The Company’s flagship product is GLASSIA®, the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. FDA. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited and in other countries through local distributors. Pursuant to an agreement with Takeda the Company will continue to produce Glassia for Takeda through 2021 and Takeda is planning to initiate its own production of Glassia for the U.S. market in 2021 at which point Takeda will commence payment of royalties to the Company. The Company’s second leading product is KamRab®, a rabies immune globulin (Human) for post-exposure prophylaxis against rabies infection. KamRab is FDA approved and is being marketed in the U.S. under the brand name KEDRAB® through a strategic partnership with Kedrion S.p.A. In addition to Glassia and KEDRAB, the Company has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. The Company has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency. In addition, the Company’s intravenous AAT is in development for other indications, such as GvHD and prevention of lung transplant rejection, and during 2020, the Company initiated the development of a plasma derived hyperimmune immunoglobulin (IgG) product as a potential treatment for coronavirus disease (COVID-19). The Company leverages its expertise and presence in the plasma-derived protein therapeutics market by distributing more than 20 complementary products in Israel that are manufactured by third parties. FIMI Opportunity Fund, the leading private equity investor in Israel, is the Company’s lead shareholder, beneficially owning approximately 21% of the outstanding ordinary shares.
Cautionary Note Regarding Forward-Looking StatementsThis release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including statements regarding: 1) approval by EMA and subsequently by IMOH of the three new biosimilar products; 2) Israeli launch of the three new biosimilar products between 2022 through 2024; 3) Kamada’s position as a leader in the emerging biosimilar market in Israel; 4) Kamada’s estimation that the potential maximum sales generated from the distribution of the three products, achievable after regulatory approval and within several years of launch, to be in the range of $5-$7 million annually; 5) approval by EMA and subsequently by IMOH of the six biosimilar products licensed from Alvotech; 6) Kamada’s expectation to launch six biosimilar products licensed from Alvotech during 2022-2025; 7) Kamada’s estimation that the potential maximum sales generated by the distribution of the six biosimilar products licensed from Alvotech, after regulatory approval and achievable within several years of launch, to be in the range of $20-$30 million annually; and 8) expectations that Kamada’s Distribution segment will continue to grow in revenues and profitability in the coming years. Forward-looking statements are based on Kamada’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, delays in the approval by the EMA and IMOH of the biosimilar products, additional competition in the biosimilar market in which Kamada operates, prevailing market conditions, corporate events associated with our partners, including the two undisclosed entities, and the impact of general economic, industry or political conditions in the U.S., Israel or otherwise. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.
"Shark Tank" host Mark Cuban revealed that he has been holding cryptocurrencies for years, without ever diluting the holdings.What Happened: The Dallas Mavericks owner let out multiple tweets on cryptocurrency-related topics Tuesday and revealed that he was a long-term holder of cryptocurrency in a social-media interaction with Gokhshtein Media founder David Gokhshtein.> I dont think people realize I try to test and use all this stuff and have for years. I still have crypto from the early days of coinbase. Ive never sold anything> > -- Mark Cuban (@mcuban) January 12, 2021The billionaire touched upon topics ranging from decentralized finance (DeFi), supply and demand, and the cost of cryptocurrency transactions.Cuban had a back and forth with Gemini co-founder Tyler Winklevoss on monetary supply during which the latter brought up the value of Cubans basketball team.> You are making my point. Supply and Demand is the ONLY thing that values BTC. As far as balance sheets and debasement, we disagree. One of the challenges of sovereign BSs is valuing IP, intangibles and cost based assets. But maybe you can tell me why inflation is minimal ? https://t.co/3ujTVFhlSx> > -- Mark Cuban (@mcuban) January 12, 2021Cuban credited Winklevoss for generating demand for Bitcoin (BTC)."My only mistake on Bitcoin in particular was underestimating your ability, and you get credit for this, to create a narrative and generate demand for it," the billionaire said. "You are the King of Get Long and Get Loud for BTC and thats not a bad thing."Why It Matters: The famed investor joked last week that he would run for the office of president of the United States if BTC hit $1 million.See Also: SPAC King Chamath Palihapitiya On Facebook, Tesla And BitcoinCuban also warned potential investors not to pile on debt to invest in Bitcoin and cautioned there was a 99% chance "you will lose EVERYTHING. Personal disaster stories are built on leverage."Price Action: Bitcoin traded 0.12% lower at $33,707.40 at press time. On Tuesday, Grayscale Bitcoin Trust (OTC: GBTC) closed 4.06% higher at $38.92.Photo by Gage Skidmore on FlickrSee more from Benzinga * Click here for options trades from Benzinga * Unfazed By A Plunging Bitcoin, Proponents Dub Pull-Back Necessary, Healthy * Bitcoin Trading Volume, Active Addresses Hit Record High Despite Slump — What That Means(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Fuel-cell stocks are higher on Wednesday. Plug Power and Renault agreed to create a 50-50 joint venture focused on vehicle systems based on hydrogen fuel cells.
Im a nosy person, so I elbowed my millennial colleague, Jessa, in the next cube over, and asked her, "Pssst... How much do you save for retirement per year?"Instead of ignoring me, she furtively Slacked me all of her financial details (it was like a giant ice cream sundae for a finance nerd): * Jessa, at 28, still owes $15,000 in student loans, and her husband, who is 30, still owes $20,000. * They owe $12,000 on their car loans. * Jessa and her husband have a $200,000 mortgage. * She currently saves $0 toward her retirement plan. (Sorry, but thats not enough, friend.) * She and her husband need help from Facet Wealth -- a virtual full-service financial planning service with dedicated certified financial planners.According to a survey by Bank of America, a surprising 16% of millennials between the ages of 24 and 38 now have at least $100,000 saved for retirement.Whooo hooo! Thats cause for celebration. But what about Jessa? What does she need to do to get out of debt and save enough for retirement?Why Millennials Struggle to Save for Retirement Why do millennials like Jessa struggle to save for retirement? 1. Housing costs: The No. 1 response (37%) for millennials is the cost of housing, according to the Retirement Pulse Survey. 2. Supporting family members financially: Millennials often support extended family members with their income. This doesnt even involve the amount you need to save to put kids through college -- remember, financial aid doesnt cover everything. 3. Not enough income: The State of Our Money shares that more than half of millennials (55%) dont have a retirement savings account, such as a 401(k) or IRA. About 46% said unemployment was to blame. 4. Student loan debt: As of September 2017, the average graduate from the class of 2016 owed more than $37,000 in student loan debt, according to Student Loan Hero. "Yep, yep and yep," she said, when I showed her these numbers. "We hit three of these four categories. I just cant afford to put money in my retirement account right now."What My Millennial Colleague Needs to Do -- and Heres What You Can Do, Too! Feel like the percentages stack against you? Heres what to do next.Tip 1: Analyze interest rates. As soon as I said the words "interest rate," Jessa flopped over in her desk chair and pretended to fall asleep.I knew Jessa and her husband refinanced their home this past fall, and I asked her about their interest rates. She was paying only 3% on their home and student loans. I suggested asking Facet Wealth if they should invest in retirement more aggressively than pay down debt on their loans. (Its what I would vote for!) On the flip side, if you have high interest rates on your own student loans, Id suggest asking Facet Wealth about paying off debt if your loans carry a higher rate than your investments earn before taxes. Tip 2: Consolidate those student loans -- but theres a catch. Consider consolidating student loan payments only if you can lower your payment without stretching out your loan term. In Jessas case, she could use the extra money to start compounding her retirement savings.Tip 3: Get cracking on that retirement plan. Jessa must save at least 10% of her income. Its the rule of thumb cited by most financial advisors and other money experts. If Jessa doesnt want to struggle to keep her head above water after retirement, she needs to invest 10% of her income each year. And none of this "invest just enough to get the employer match" crap. In most cases, thats not enough retirement savings for most people and it wont scratch the surface toward creating a hefty nest egg. Tip 4: To get really rich, invest at least 15%. If Jessa wants to get really rich as a passive investor, shell invest at least 15% of her income. She wont get Warren Buffett rich, of course, but if she wants at least $1 million in liquid assets beyond her home value, shell shoot for saving 15%.That goes for anyone who invests for retirement. Tip 5: Never, ever borrow from your retirement plan. You can lend yourself money from your retirement account, but its not a good idea. Jessas retirement plan is off limits, and so is yours. Assume that money is in lockdown. Period.Why? * You lose compounded growth on your earnings. * You repay the loan with after-tax money, which means the interest you pay will get taxed again when you withdraw it at retirement (unless you borrow from a Roth 401(k). * If you leave your job, youll have to repay the loan, typically within 60 days of leaving. If you cant, youll owe taxes on the balance and a 10% penalty as well if youre under 55.You dont want to mess with all that.Tip 5: Take time to review what options are best for you. Once youve got retirement savings under control, you may want to take a look at other potential opportunities. Maybe Jessa and her husband want to dive into real estate investing or get cracking on several side hustles. Whatever it is, she needs to make sure its worth her time and energy and can contribute toward her long-term goals.Tip 6: Do your own research. Jessa is a proud graduate of a liberal arts college, which means shes a lifelong learner. Heres another thing shell do to maximize her success: Shell read everything she can get her hands on. Shell research funds and options within her 401(k), read investing books, books about real estate, articles about destroying debt and more. Shell absorb blog posts, listen to podcasts and develop her own investing philosophy. Shell be her own advocate when it comes to her own needs, risk tolerance and more, and you can, too.How Much Retirement Money Should You Aim to Save? Jessa is 28, but millennials span a wide range of ages -- from 24 to 38. Check out the rules of thumb for savings at each age.Savings Goal for Your 20s Accumulate 25% of your overall gross pay during your twenties. You might need to lower this amount if youve amassed a giant amount of student loan debt. Savings Goal for Your 30s Have at least one year of salary saved by the time you turn 30. If Jessa makes $100,000, she should have $100,000 saved. Savings Goal for Ages 35 to 40 Those of you on the mid-thirties end of the millennial spectrum should have double your annual salary saved. You should have four times your yearly salary saved if youre 40. Steps to Get There If shes serious about getting out of debt and saving enough for retirement, Jessa must do these three things.Step 1: Get started. This article wont help -- if she (or you) do nothing about it. You must take action if you truly want to save enough and get out of debt. It takes time and discipline and not even very much money per month (depending on your age).Step 2: Invest aggressively, automatically. Two facts: * If you start at 24, you can have $1 million at age 69. All you need to do is save $35 per month -- and get a 10% return on your investments. Save more, and youll become a millionaire more quickly. * If you start at 40, you can save $1 million by saving $561 per month, assuming a 10% return. I informed Jessa that since she has $0 saved for retirement at this point, she can start saving at least $158.15 per month for 40 years with a 10% return and still be able to become a millionaire.$158.15 -- thats the cost of a pair of new shoes each month, I informed her. Get Facet Wealth on Your Side Nobody ever says, "Be your own doctor." Why would you assume, then, that you should be your own financial advisor (unless youre a financial analyst or advisor)?You need Facet Wealth, which can help you achieve a more prosperous life by helping you work with a dedicated CFP® Professional at an affordable price.Jessa informed me that shed signed up for our company retirement plan and also made a plan for getting out of debt the very next day.I bought her a cupcake and set it on her desk. It was cause for celebration.See more from Benzinga * Click here for options trades from Benzinga * 8 Must-Know Tips for Getting a Background Check on Your Work-from-Home Employee * 2021 Crypto Preview: Heres Whats Coming Next(C) 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.