Kamada Provides Update on 2021 GLASSIA Supply to Takeda

• Kamada Expects to Receive $25 Million in Revenues from Sales of GLASSIA to Takeda in 2021 which is Takeda’s Minimum Commitment for 2021 Pursuant to the Existing Supply Agreement
  
• Kamada Projects Royalties from Takeda in the Range of $10 Million to $20 Million per Year from 2022 to 2040
• Kamada Reiterates its Total Revenues Guidance of Between $132 million and $137 million for Full-year 2020
  

REHOVOT, Israel, Oct. 07, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ: KMDA; TASE: KMDA.TA), a plasma-derived biopharmaceutical company, today announced that, following recent discussions with Takeda, it expects to receive approximately $25 million in revenues from the supply of GLASSIA to Takeda in 2021.

As previously indicated, the agreement with Takeda provided a supply range for 2021 pursuant to which Kamada’s revenues from sales of GLASSIA to Takeda were projected to be between $25 million to $50 million. The 2021 supply range was included in the agreement to provide flexibility for Takeda to address any potential changes in the expected timeline for its completion of the planned transition of GLASSIA manufacturing.

“Based on our recent discussions with Takeda, the planned transition of GLASSIA manufacturing to their plant is advancing as expected,” said Amir London, Kamada’s Chief Executive Officer. “As such, Takeda anticipates that its 2021 GLASSIA demand from Kamada will not exceed the minimum commitment under the supply agreement which is expected to generate $25 million of revenue for Kamada. The Company is prepared to make the necessary adjustments to our plant costs during 2021 to align with our manufacturing plan and future needs.”

“We continue to intensively explore business development opportunities that would over time mitigate the effects of the planned transition of GLASSIA manufacturing to Takeda in 2021,” added Mr. London. “These opportunities, funded by our strong cash position, along with organic commercial growth of our existing products portfolio, our distributed products in Israel, the expected future royalty payments from Takeda, the contract manufacturing of an FDA approved and commercialized specialty IgG product as well as the continued advancement in the development of our COVID-19 IgG product candidate which is advancing in the clinic are expected to contribute to our future growth,” concluded Mr. London.