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KMDA

Kamada

$5.59

-0.05 (-0.89%)

, TAK

Takeda Pharmaceutical

$16.85

0.28 (1.69%)

07:05
09/03/19
09/03
07:05
09/03/19
07:05

Kamada extends supply agreement with Takeda for Glassia

Kamada announced the extension of its strategic supply agreement with Takeda for GLASSIA, an Alpha1-Proteinase Inhibitor. Kamada will now continue to produce GLASSIA for Takeda through 2021. Based on the extended agreement, Kamada projects that total revenues from sales of GLASSIA to Takeda during the years 2019-2021 will be in the range of $155M-$180M. On an annual basis, Kamada projects revenues of approximately $65M during each of 2019 and 2020, and between $25M-$50M during 2021, based on Takeda's needs. Based on the agreement between the companies, upon initiation of sales of GLASSIA manufactured by Takeda, it will pay royalties to Kamada at a rate of 12% on net sales through August 2025, and at a rate of 6% thereafter until 2040, with a minimum of $5M annually, for each of the years from 2022 to 2040. Although the transition of the agreement to its royalties phase will result in a reduction of Kamada's revenue from Takeda, based on current GLASSIA sales in the U.S. and forecasted future growth, Kamada projects receiving royalties from Takeda in the range of $10M-$20M per year for 2022 to 2040. Kamada is reiterating its FY19 revenue guidance of $125M-$130M. The Company plans to provide its 2020 revenue guidance by the end of 2019.

KMDA

Kamada

$5.59

-0.05 (-0.89%)

TAK

Takeda Pharmaceutical

$16.85

0.28 (1.69%)

  • 07

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  • 09

    Sep

  • 24

    Sep

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  • 02

    Oct

KMDA Kamada
$5.59

-0.05 (-0.89%)

TAK Takeda Pharmaceutical
$16.85

0.28 (1.69%)

03/19/19
GSCO
03/19/19
INITIATION
GSCO
Buy
Takeda Pharmaceutical reinstated with a Buy at Goldman Sachs
Goldman Sachs analyst Akinori Ueda reinstated Takeda with a Buy rating saying the Shire integration is the key catalyst to move shares higher.
03/19/19
03/19/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Casa Systems (CASA) initiated with a Buy at DA Davidson. 2. Sterling Bancorp (SBT) initiated with an Overweight at Piper Jaffray. 3. Takeda Pharmaceutical (TAK) reinstated with a Buy at Goldman Sachs. 4. CyberArk (CYBR) initiated with an Outperform at FBN Securities. 5. Varex Imaging (VREX) initiated with an Outperform at Northland. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/09/19
STFL
05/09/19
NO CHANGE
STFL
Buy
Novartis deal makes Aerie 'look like a steal' at current levels, says Stifel
Stifel analyst Annabel Samimy said Novartis' (NVS) agreement to buy Takeda's (TAK) dry eye product Xiidra for $3.4B upfront in cash and up to an additional $1.9B in potential milestone payments "clearly frames the value for innovative ophthalmologic assets" and makes shares of Aerie Pharmaceuticals (AERI) "look like a steal." Applying the same peak sales multiple that Novartis paid for Xiidra implies a market-value of greater than $6B for Aerie, said Samimy, who noted that she does not expect an immediate takeout of Aerie but remains a buyer of the shares.
08/15/19
DAIW
08/15/19
DOWNGRADE
DAIW
Neutral
Takeda Pharmaceutical downgraded to Neutral from Outperform at Daiwa
Daiwa analyst Kazuaki Hashiguchi downgraded Takeda Pharmaceutical to Neutral from Outperform with a price target of 3,700 yen, down from 4,500 yen.

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