Kamada Ltd., a global biopharmaceutical company, expects to achieve significant financial growth in 2026, with projected revenue of $200 million to $205 million and adjusted EBITDA of $50 million to $53 million. At the midpoint, this represents a 13% increase in revenue and a 23% increase in adjusted EBITDA compared to 2025 expectations, all driven by organic growth from its core businesses.
The company's growth strategy centers on two main pillars: its proprietary specialty plasma-derived therapeutics business and its distribution segment. For 2026, Kamada anticipates increased sales in the U.S. market and growth for products like KAMRAB®, GLASSIA®, HEPAGAM® and VARIZIG® in international markets. The distribution business is expected to expand through the launch of additional biosimilar products in Israel and expansion into the Middle East and North Africa region.
A key component of Kamada's growth plan involves its plasma collection operations in Texas, where the company operates three collection centers. Each of the Houston and San Antonio facilities has an annual collection capacity of approximately 50,000 liters of plasma, with estimated annual revenue contributions of $8 million to $10 million at full capacity. By developing its own plasma collection capabilities through its Kamada Plasma unit, the company reduces dependency on third-party suppliers and positions itself as a supplier to industry peers.
Chief Executive Officer Amir London emphasized the company's strong position entering 2026, stating that growth will come from continued organic expansion of their diverse commercial product portfolio marketed in over 30 countries. London noted that the company's ability to maintain profitable growth is particularly significant given that 2026 will be the first full year with reduced royalty payments for GLASSIA from Takeda Pharmaceutical Co. Ltd., demonstrating the strength of Kamada's broader business model.
Beyond organic growth, Kamada is actively pursuing new business development deals and acquisitions that could enrich its current portfolio of marketed products and generate synergies with existing commercial operations. The company expects to end 2025 with approximately $75 million in cash, providing financial flexibility for these initiatives. Kamada plans to publish its 2025 financial results during the first half of March, with further details available through regulatory filings with the U.S. Securities and Exchange Commission at https://www.sec.gov.
This projected growth comes amid various market challenges, including the evolving nature of conflicts in the Middle East and their impact on market conditions, potential tariff effects on international trade, and regulatory considerations. However, Kamada's diversified approach—combining proprietary plasma therapies, strategic distribution partnerships, and internal plasma collection capabilities—positions the company to navigate these challenges while pursuing expansion in global healthcare markets.
