Kamada Buys Portfolio of Four Commercial Products From Saol Therapeutics [MarketWatch]
BANK HAPOALIM B.M. S/ADR (BKHYY)
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Source: MarketWatch
Therapeutics, a commercial specialty pharmaceutical company focused on addressing the medical needs of underserved or unserved patient populations. Biopharmaceutical company Kamada said it would pay Saol a $95 million upfront payment, and up to an additional $50 million in sales -based milestones during the 2022 to 2034 period. The company said it expects the combined annual global revenue of the acquired portfolio in 2021 to be between $40 million to $45 million, with about 75% and 20% of sales generated in the U.S. and Canada, respectively. To partially fund the acquisition costs, Kamada said it secured a $40 million credit facility from Israeli commercial lender Bank Hapoalim. Kamada said it now has a portfolio of six plasma-derived commercial products, and the acquisition adds eight additional international markets, primarily in the Middle East and North Africa region, to its existing distribution network. Write to Michael Dabaie at michael.dabaie@wsj.com
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