Kamada Ltd., a global biopharmaceutical company, expects significant financial growth in 2026, projecting revenue between $200 million and $205 million and adjusted EBITDA between $50 million and $53 million. At the midpoint, this represents year-over-year gains of 13% and 23%, respectively. This growth is entirely organic, stemming from the company's proprietary specialty plasma therapies business and its distribution segment, which commercializes in-licensed third-party biopharmaceutical products.
The company is also on track to meet its 2025 financial targets, with expected revenue of $178 million to $182 million and adjusted EBITDA of $40 million to $44 million. Kamada anticipates ending 2025 with approximately $75 million in cash and plans to publish its full-year 2025 results in the first half of March. Amir London, Kamada's Chief Executive Officer, stated the company enters 2026 from a position of significant commercial and financial strength, emphasizing progress made over the past year and confidence in achieving value-generating objectives.
Growth in 2026 will be driven primarily by Kamada's specialty plasma-derived therapeutics business, including increased sales in the U.S. market and higher sales of products like KAMRAB®, GLASSIA®, HEPAGAM®, and VARIZIG® in markets outside the U.S. The company's Distribution segment is also expected to contribute significantly, particularly through the launch of additional biosimilar products in the Israeli market and expansion into the Middle East and North Africa region.
A key component of Kamada's growth strategy involves its plasma collection operations in Texas. The company operates three plasma collection centers in Houston and San Antonio, each with an annual collection capacity of approximately 50,000 liters of plasma. At full capacity, each site is estimated to contribute $8 million to $10 million in annual revenue. 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 for industry peers. Kamada plans to increase plasma collection at all three centers.
This projected growth is notable as it comes during the first full year of reduced royalty payments for GLASSIA from Takeda Pharmaceutical Co. Ltd., which London cited as a testament to the company's underlying strength. Beyond organic growth, Kamada is focused on new business development deals and acquisitions, which are expected to enrich its current portfolio of marketed products and generate synergies with existing commercial operations.
The company's forward-looking statements are based on current knowledge and expectations but are subject to risks and uncertainties detailed in its filings with the U.S. Securities and Exchange Commission, available at https://www.sec.gov. Factors that could affect results include the evolving nature of conflicts in the Middle East, general economic conditions, potential tariffs, regulatory approvals, and operational capabilities of its plasma centers. The original release can be viewed on https://www.newmediawire.com.
