UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 11-K



          [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934

                  For the fiscal year ended: December 31, 2006

                                       OR

  [ ] TRANSITION REPORT PURSUANT TO SECTION 15(d)OF THE SECURITIES EXCHANGE ACT
                                    OF 1934

              For transition period from __________ to ___________

                         Commission file number 1-13648

    A. Full title of the plan and the address of the plan, if different from
                        that of the issuer named below:

                 Balchem Corporation 401(k)/Profit Sharing Plan

   B. Name of the issuer of the securities held pursuant to the plan and the
                   address of its principal executive office:

                               Balchem Corporation
                              52 Sunrise Park Road
                                   PO Box 600
                              New Hampton, NY 10958

<page>



                              REQUIRED INFORMATION

Financial Statements:

4. In lieu of  requirements  of Items  1-3,  audited  financial  statements  and
schedules  prepared in accordance with the  requirements of ERISA for the plan's
fiscal year ended December 31, 2006 are presented herein.

Exhibits:

Exhibit No. 23 - Consent of MCGLADREY & PULLEN, LLP, Independent Registered
Public Accounting Firm



<page>



                                  EXHIBIT INDEX

Exhibit No.                       Exhibit Description
-----------                       -------------------

23                                Consent of MCGLADREY & PULLEN, LLP




<page>



                                   SIGNATURES


Pursuant  to the  requirements  of the  Securities  Exchange  Act of  1934,  the
trustees (or other persons who administer  the employee  benefit plan) have duly
caused this annual report to be signed on its behalf by the undersigned hereunto
duly authorized.



Date: June 29, 2007                           BALCHEM CORPORATION
                                              401(k)/Profit Sharing Plan

                                              By:    Balchem Corporation,
                                                     Plan Administrator

                                              By:/s/ Dino A. Rossi
                                              --------------------------------
                                                     Dino A. Rossi, President,
                                                     Chief Executive Officer

                                              By:/s/ Francis J. Fitzpatrick
                                              --------------------------------
                                                     Francis J. Fitzpatrick,
                                                     Chief Financial Officer



<page>


                               BALCHEM CORPORATION
                           401(k)/ PROFIT SHARING PLAN

                              Financial Statements
                            and Supplemental Schedule

                           December 31, 2006 and 2005

         (With Report of Independent Registered Public Accounting Firm)




<page>



                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN


                                Table of Contents


                                                                            Page

Report of Independent Registered Public Accounting Firm                     1

Statements of Net Assets Available for Benefits                             2

Statement of Changes in Net Assets Available for Benefits                   3

Notes to Financial Statements                                               4

Supplemental Information

Schedule H, Part IV, Line 4(i) - Schedule of Assets (Held at End of Year)   10



<page>


             Report of Independent Registered Public Accounting Firm

To the Plan Administrator
Balchem Corporation 401(k)/Profit Sharing Plan
New Hampton, New York

We have audited the accompanying statements of net assets available for benefits
of Balchem Corporation  401(k)/Profit Sharing Plan (the Plan) as of December 31,
2006 and 2005, and the related  statement of changes in net assets available for
benefits for the year ended December 31, 2006.  These  financial  statements are
the responsibility of the Plan's management. Our responsibility is to express an
opinion on these financial statements based on our audit.

We conducted  our audit in accordance  with the standards of the Public  Company
Accounting Oversight Board (United States). Those standards require that we plan
and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement.  An audit includes examining, on a
test basis,  evidence  supporting  the amounts and  disclosures in the financial
statements.  An audit also includes assessing the accounting principles used and
significant  estimates  made by  management,  as well as evaluating  the overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material  respects,  the net assets available for benefits of the Plan as of
December 31, 2006 and 2005, and the changes in net assets available for benefits
for the year ended December 31, 2006 in conformity  with  accounting  principles
generally accepted in the United States of America.

As disclosed in Note 2, the Plan adopted  Financial  Accounting  Standards Board
Staff Position AAG INV-1 and SOP 94-4-1,  Reporting of Fully  Benefit-Responsive
Investment  Contracts Held by Certain Investment  Companies Subject to the AICPA
Investment  Company Guide and Defined  Contribution  Health and Welfare and Plan
Plans, as of December 31, 2006.

Our audit was made for the purpose of forming an opinion on the basic  financial
statements taken as a whole. The supplemental  schedule of assets held at end of
year as of December 31, 2006 is presented for the purpose of additional analysis
and  is  not  a  required  part  of  the  basic  financial  statements,  but  is
supplementary  information  required  by the  Department  of  Labor's  Rules and
Regulations for Reporting and Disclosure  under the Employee  Retirement  Income
Security Act of 1974. This  supplemental  schedule is the  responsibility of the
Plan's management.  The supplemental schedule has been subjected to the auditing
procedures  applied in our audit of the 2006 basic financial  statements and, in
our opinion,  is fairly stated in all material  respects in relation to the 2006
basic financial statements taken as a whole.


/s/  McGladrey & Pullen, LLP
New York, NY
June 29, 2007


                                       1
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                 Statements of Net Assets Available for Benefits
                           December 31, 2006 and 2005

                                                        2006            2005
                                                     -----------     -----------
Assets:
      Investments at fair value (note 3)             $16,243,585     $12,783,087
      Receivables:
          Employer contribution                          420,026         326,090
          Participant contributions                       32,897              --
          Interest                                         1,034              --
                                                     -----------     -----------
                      Total assets                   $16,697,542     $13,109,177
                                                     ===========     ===========


See accompanying notes to financial statements.


                                       2
<page>
<table>
<caption>

                                   BALCHEM CORPORATION
                                401(k)/PROFIT SHARING PLAN
                Statement of Changes in Net Assets Available for Benefits
                               Year ended December 31, 2006

                                                                                2006
                                                                            ------------

                                                                           <c>
Addition to net assets attributed to:
     Investment income:
         Interest                                                           $    116,135
         Dividends                                                                10,391
         Net appreciation in fair value of investments (note 3)                2,016,764
                                                                            ------------
                                                                               2,143,290
                                                                            ------------
     Contributions:
         Participant                                                           1,275,639
         Employer                                                                767,290
                                                                            ------------
                                                                               2,042,929
                                                                            ------------
                   Total additions                                             4,186,219
                                                                            ------------
Deductions from net assets attributed to:
     Benefits paid to participants                                              (571,827)
     Fees                                                                         (9,523)
     Other, net                                                                  (16,504)
                                                                            ------------
                   Total deductions                                             (597,854)
                                                                            ------------
                   Net increase in net assets available for benefits           3,588,365
Net assets available for benefits at beginning of year                        13,109,177
                                                                            ------------
Net assets available for benefits at end of year                            $ 16,697,542
                                                                            ============
See accompanying notes to financial statements.


                                            3
</table>
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                          Notes to Financial Statements
                           December 31, 2006 and 2005

Note 1 - Description of the Plan

         The  following  description  of the Balchem  Corporation  401(k)/Profit
         Sharing Plan (the Plan) provides only general information. Participants
         should refer to the Plan  agreement for a more complete  description of
         the Plan's provisions.

         General

         The Plan is principally a participant  directed,  defined  contribution
         plan covering all active employees of Balchem Corporation (the Company)
         who have 60 days of  service,  as  defined,  and are 18 years of age or
         older,  except  those  that  are  currently  covered  by  a  collective
         bargaining  agreement.  The Plan is  subject to the  provisions  of the
         Employee Retirement Income Security Act of 1974 (ERISA).

         The Company pays  administrative  and record keeping fees for the Plan.
         Plan  participants  are required to pay fees for participant  loans and
         certain  brokerage fees for  transactions  pertaining to investments in
         Balchem Corporation Common Stock.

         Contributions

         Each  year,  participants  may  contribute  up to 75% of pretax  annual
         compensation,  as defined in the Plan.  Such  amounts may be limited by
         the maximum amounts allowed under Internal Revenue Service regulations.
         Participants  may also contribute  amounts  representing  distributions
         from other  qualified  defined benefit or defined  contribution  plans.
         Participants  direct the investment of their contributions into various
         investment   options  offered  by  the  Plan.  The  employer   matching
         contributions equal 35% of each participant's  elected contribution and
         the Company may make discretionary  profit-sharing contributions at the
         option of the Company's Board of Directors.  Matching contributions are
         made in Balchem  Corporation Common Stock on a monthly basis based upon
         the  closing  price of the stock on the last  trading day of each month
         and are subject to the vesting schedule  described  below.  Included in
         employers'  contribution  receivable  as of December  31, 2006 and 2005
         were discretionary  Company profit sharing  contributions made in March
         2007 and  February  2006 for the 2006  and  2005  plan  years  totaling
         $395,424 and $326,090, respectively.

         Participant Accounts

         Each   participant's   account  is  credited  with  the   participant's
         contribution  and allocations of the Company's  matching  contributions
         and plan  earnings  or  losses.  Allocations  are based on  participant
         account  balances,  as defined.  The benefit to which a participant  is
         entitled is the benefit  that can be  provided  from the  participant's
         vested account.

                                       4
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                          Notes to Financial Statements
                           December 31, 2006 and 2005

         Vesting

         Participants  are  100%  vested  in  their  contributions  plus  actual
         earnings or losses thereon. Vesting in the Company contribution portion
         of their  accounts plus actual  earnings or losses  thereon is based on
         years of continuous  service,  as defined.  A participant  becomes 100%
         vested after two years of service,  except for employees  hired as part
         of the Company's February 8, 2006 acquisition of all of the outstanding
         capital stock of Chelated  Minerals  Corporation  ("CMC"),  a privately
         held  Utah  corporation,  whose  prior  credited  service  is  used  in
         determining the vested portion of such matching contributions.

         Investment Options

         Upon  enrollment  in  the  Plan,   participants   may  direct  employee
         contributions  to  the  various  investment  options   administered  by
         Prudential  Retirement  Insurance and Annuity  Company  ("PRIAC") and a
         maximum of 10% of a participant's  contribution to Balchem  Corporation
         Common Stock Fund. Employer matching  contributions are made in Company
         stock and are  directed to the Balchem  Corporation  Common  Stock Fund
         (see  Schedule  1).  Discretionary  contributions  are  made  from  the
         Company's cash reserves.

         Participant Loans

         Participants may borrow from their fund accounts a minimum of $1,000 up
         to a maximum  equal to the  lesser of  $50,000  or 50% of their  vested
         account  balances.  Loan terms  extend up to five years or in excess of
         five  years  for the  purchase  of a primary  residence.  The loans are
         secured by the balance in the participants'  accounts and bear interest
         at a fixed  rate  based on the  prime  rate plus 2% at the time of loan
         origination and range from 6% to 10.25% at December 31, 2006.

         Payment of Benefits

         On termination of service,  a participant may receive a lump sum amount
         equal  to the  vested  value  of his or her  account,  or  upon  death,
         disability or retirement,  the  participant may elect to receive annual
         installments over a period not to exceed the participant's lifetime, or
         the joint lifetime of the participant and the participant's  spouse, or
         an annuity contract.

         Effective March 28, 2005, the threshold for involuntary distribution of
         vested accrued benefits was reduced from $5,000 to $1,000.

         Income (Loss) Allocations

         Investment income (loss) for an accounting period shall be allocated to
         participants'  accounts in proportion to the total of their  respective
         account  balances at the beginning of such  accounting  period plus any
         contributions  or loan  repayments  credited to the account  during the
         period.

                                       5
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                          Notes to Financial Statements
                           December 31, 2006 and 2005

         Forfeited Accounts

         Forfeited balances of terminated  participants' non-vested accounts are
         allocated to all active participant  accounts as of the last day of the
         plan year.  Forfeited  non-vested accounts totaled $749 at December 31,
         2006.

Note 2 - Summary of Accounting Policies

         Basis of Accounting

         The financial statements of the Plan are presented on the accrual basis
         of accounting.

         Risks and Uncertainties

         The  assets of the Plan at  December  31,  2006 and 2005 are  primarily
         financial  instruments  which  are  monetary  in  nature.  Accordingly,
         interest rates and market  fluctuations have a more significant  impact
         on the  Plan's  performance  than the  effects  of  general  levels  of
         inflation. Interest rates do not necessarily move in the same direction
         or in the same  magnitude  as the  prices  of  goods  and  services  as
         measured by the consumer price index.

         The  investments  are  subject  to risk  conditions  of the  individual
         investments'  objectives,  the stock market,  interest rates,  economic
         conditions,  world affairs and, in the case of the Balchem  Corporation
         Common Stock Fund,  the results of operations  and other risks specific
         to Balchem Corporation.

         Investment Valuation and Income Recognition

         Except for the guaranteed  income fund, the Plan's  investments held in
         the  Plan's  funds are stated at fair value  determined  from  publicly
         quoted  market  prices.  Participant  loans are  valued at cost,  which
         approximates fair value.

         As  of  December  31,  2006,  the  Plan  adopted  Financial  Accounting
         Standards  Board (FASB) Staff  Position FSP AAG INV-1 and  Statement of
         Position No. 94-4-1, Reporting of Fully  Benefit-Responsive  Investment
         Contracts  Held by Certain  Investment  Companies  Subject to the AICPA
         Investment  Company Guide and  Defined-Contribution  Health and Welfare
         and Pension  Plans (the FSP).  The FSP  requires  the  Statement of Net
         Assets  Available  for Benefits to present the fair value of the Plan's
         investments as well as the adjustment from fair value to contract value
         for  the  fully   benefit-responsive   investment  contracts,  and  the
         Statement  of  Changes  in Net  Assets  Available  for  Benefits  to be
         prepared  on a contract  value  basis for the fully  benefit-responsive
         investment contracts.  The FSP was retrospectively applied to the prior
         period  presented on the Statement of Net Assets Available for Benefits
         as of December 31, 2005.

                                       6
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                          Notes to Financial Statements
                           December 31, 2006 and 2005

         The  guaranteed  income  fund is  recorded  at  contract  value,  which
         approximates  fair value.  Contract value represents  contributions and
         reinvested income, less any withdrawals plus accrued interest,  because
         these investments have fully benefit-responsive  features. For example,
         participants may ordinarily direct the withdrawal or transfer of all or
         a portion of their investment at contract value.  There are no reserves
         against   contract  values  for  credit  risk  of  contract  issues  or
         otherwise. The average yield was approximately 3.29% and 3.35% for 2006
         and  2005,   respectively.   The  crediting  interest  rate  for  these
         guaranteed funds is reset semiannually by the issuer but cannot be less
         than  zero and was  4.15%  and  3.75% at  December  31,  2006 and 2005,
         respectively.

         Purchases and sales of  securities  are recorded on a trade date basis.
         Interest  income  is  recorded  on the  accrual  basis.  Dividends  are
         recorded on the ex dividend date.

         Payment of Benefits

         Benefits are recorded when paid.

         Use of Estimates

         The  preparation of financial  statements in conformity with accounting
         principles  generally accepted in the United States of America requires
         the plan  administrator  to make estimates and  assumptions  that could
         affect the reported  amounts of net assets at the date of the financial
         statements and the reported  amounts of changes in net assets available
         for benefits during the reporting  period.  Actual results could differ
         from those estimates.

Note 3 - Investments

         Investments at December 31, 2006 and 2005 consisted of:

                                                        2006          2005
                                                    -----------   -----------
         Cash equivalents, Guaranteed Income Fund   $ 3,022,786   $ 2,509,546
         Pooled separate accounts                     8,366,796     6,500,407
         Balchem Corporation Common Stock*            4,474,384     3,446,850
         Participant loans                              379,619       326,284
                                                    -----------   -----------
                                                    $16,243,585   $12,783,087
                                                    ===========   ===========

         * A portion of the Balchem  Corporation Common Stock is non-participant
         directed.

         The following  represents  investments that represent 5% or more of the
         Plan's net assets:

                                                       2006         2005
                                                    ----------   ----------
         Balchem Corporation Common Stock*          $4,474,384   $3,446,850
         Cash equivalents, Guaranteed Income Fund    3,022,786    2,509,546
         Dryden S&P Index Fund                       2,321,280    2,203,938

                                       7
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                          Notes to Financial Statements
                           December 31, 2006 and 2005

         Janus Adviser Balanced Fund                 1,037,598      942,314
         Prudential Lifetime 40                      1,069,121      867,206

         * A portion of the Balchem  Corporation Common Stock is non-participant
         directed.

         During  the  year  ended  December  31,  2006,  the  Plan   investments
         (including gains and losses on investments  bought and sold, as well as
         held during the year) appreciated in value as follows:

         Pooled separate accounts           $1,013,863
         Balchem Corporation Common Stock    1,002,901
                                            ----------
                                            $2,016,764
                                            ==========

Note 4 - Non-participant directed investments

         Information about the net assets and the significant  components of the
         changes  in  net  assets  relating  to  the  non-participant   directed
         investments are as follows:

                                               2006         2005
                                            ----------   ----------
         Balchem Corporation Common Stock   $3,870,400   $2,981,668
                                            ==========   ==========

                                                                  Year ended
                                                               December 31, 2006
                                                               -----------------
         Change in net assets:
                  Contributions                                  $   362,318
                  Dividends and interest                              10,390
                  Net appreciation                                   863,990
                  Benefits paid to participants                     (143,644)
                  Transfers to participant-directed investments     (204,322)
                                                                 -----------
                                  Net increase                       888,732
         Net assets at beginning of year                           2,981,668
                                                                 -----------
         Net assets at end of year                               $ 3,870,400
                                                                 ===========

Note 5 - Related-Party Transactions

         As of  December  31, 2006 and 2005,  the Plan held  261,354 and 260,163
         shares of Balchem Corporation common stock, respectively, with a market
         value of  $4,474,384  and  $3,446,850  at  December  31, 2006 and 2005,
         respectively. The aforementioned share information has been adjusted to
         reflect the December 2006 and December 2005 three-for-two stock splits,
         which  were  effected  by means of stock  dividends,  initiated  by the
         Company.  Certain Plan  investments are shares of various funds managed
         by Prudential  Retirement Insurance & Annuity Company

                                       8
<page>

                               BALCHEM CORPORATION
                           401(k)/PROFIT SHARING PLAN
                          Notes to Financial Statements
                           December 31, 2006 and 2005

         ("PRIAC").  PRIAC is the  trustee  of the Plan  and,  therefore,  these
         transactions are considered related-party transactions.


Note 6 - Plan Termination

         Although it has not  expressed any intent to do so, the Company has the
         right under the Plan to discontinue its  contributions  at any time and
         to terminate the Plan subject to the provisions of ERISA.  In the event
         of plan  termination,  participants  will  become  100% vested in their
         accounts.

Note 7 - Income Tax Status

         The Plan has received a favorable  determination letter dated March 22,
         1999 from the Internal  Revenue  Service  ruling that it is a qualified
         plan pursuant to the appropriate  section of the Internal  Revenue Code
         (IRC) and,  accordingly,  the earnings of the  underlying  trust of the
         Plan  are not  subject  to tax  under  present  income  tax  law.  Once
         qualified,  the Plan is required to operate in conformity  with the IRC
         to maintain  its  qualifications.  Although  the Plan has been  amended
         since receiving the determination  letter,  the Plan  administrator and
         the  Plan's  tax  counsel  believe  that  the Plan is  designed  and is
         currently being operated in compliance with the applicable requirements
         of the IRC.


                                       9
<page>
<table>
<caption>

                                                                                                                Schedule 1

                                                    BALCHEM CORPORATION
                                                401(k)/PROFIT SHARING PLAN
                                    Schedule H, Part IV, Line 4(i) - Schedule of Assets
                                                    Held at End of Year
                                                     December 31, 2006

           Identity of issue,                    Description of investments including maturity date,           Current
    borrower, lessor or similar party            rate of interest, collateral, par or maturity value            value
------------------------------------------   ------------------------------------------------------------   -------------

                                              <c>                                                           <c>
Guaranteed Income Fund(1)                    Units of participation in Guaranteed Income Fund -
                                                 91,216 units, $33.13 per unit                              $   3,022,786
Small Cap Growth / Times Square              Units of participation in Small Cap Growth / Times Square
                                                 17,874 units, $24.43 per unit                                    436,778
Oppenheimer Global Fund                      Units of participation in Oppenheimer Global Fund
                                                 7,106 units, $81.29 per unit                                     577,751
Mid-Cap Value / Well Management              Units of participation in Mid-Cap Value / Well Management
                                                 6,512 units, $21.31 per unit                                     138,774
Mid-Cap Growth / Artisan                     Units of participation in Mid-Cap Growth / Artisan
                                                 34,667 units, $11.98 per unit                                    415,580
Prudential Lifetime 60(1)                    Units of participation in Prudential Lifetime 60 -
                                                 9,178 units, $16.34 per unit                                     149,992
Prudential Lifetime 50(1)                    Units of participation in Prudential Lifetime 50 -
                                                 14,560 units, $16.74 per unit                                    243,871
Prudential Lifetime 40(1)                    Units of participation in Prudential Lifetime 40 -
                                                 63,398 units, $16.86 per unit                                  1,069,121
Prudential Lifetime 30(1)                    Units of participation in Prudential Lifetime 30 -
                                                 19,909 units, $17.25 per unit                                    343,533
Prudential Lifetime 20(1)                    Units of participation in Prudential Lifetime (20)
                                                 7,356 units, $17.41 per unit                                     128,095
Large Cap Growth/Turner Investment(1) Fund   Units of participation in Large Cap Growth/Turner Investment
                                                 22,994 units, $13.15 per unit                                    302,585
Large Cap Value/AJOFund(1)                   Units of participation in Large Cap Value/AJO Fund -
                                                 26,886 units, $16.06 per unit                                    431,786
Janus Adviser Balanced Fund(1)               Units of participation in Janus Adviser Balanced Fund -
                                                 29,452 units, $35.23 per unit                                  1,037,598
Intern Equity / Julius Baer                  Units of participation in Intern Equity / Julius Baer
                                                 26,767 units, $24.73 per unit                                    662,002
Goldman Sachs Small Cap Value                Units of participation in Goldman Sachs Small Cap Value
                                                 1,966 units, $54.96 per unit                                     108,050
Dryden S&P Index Fund(1)                     Units of participation in Dryden S&P Index Fund -
                                                 27,808 units, $83.47 per unit                                  2,321,280
Balchem Corporation Common Stock(1)(2)(3)    Units of participation in Balchem Common Stock -
                                                 261,354 units, $17.11 per unit                                 4,474,384
Participant loans(1)                         Interest rates range from 6.00% to 10.25%                            379,619
                                                                                                            -------------
                                                            Total                                           $  16,243,585
                                                                                                            =============

(1)   Parties-in-interest

(2)   The cost basis of the Balchem Corporation Common Stock Fund at December
      31, 2006 was $1,681,621.

(3)   All per share (unit) information has been adjusted to reflect the December
      2006 three-for-two stock split (effected by means of a stock dividend)
      initiated by the Company.

See accompanying report of independent registered public accounting firm.


                                                            10
</table>