Chiesi agrees distribution deal for inhaled AAT therapy

Chiesi has announced a new distribution agreement with Kamada that will allow it to sell a new alpha-1 antitrypsin (AAT) deficiency treatment in various territories.

Under the terms of the deal, Chiesi gains exclusive distribution rights to Kamada's innovative inhaled AAT therapy in Europe, Turkey and former members of the Commonwealth of Independent States.

Kamada will receive milestone payments of up to $60 million (38.22 million pounds) over the course of the 12-year agreement, with sales of the drug estimated to begin no earlier than 2015 if it continues to make progress in clinical development.

Assuming it is eventually approved by the European Medicines Agency, it is thought that sales of inhaled AAT could amount to hundreds of millions of dollars in the coming years.

Alberto Chiesi, president and chairman of Chiesi, said: "We are delighted to enter this strategic alliance on inhaled AAT, as this product has the potential to change the life of thousands of patients suffering from this life-threatening genetic disorder."

The Chiesi group was originally founded in 1935 and now operates 25 direct branches across the world, employing around 3,800 people.