Kamada Ltd., a global biopharmaceutical company, projects 13% revenue growth and 23% adjusted EBITDA growth for 2026, with anticipated revenue between $200 million and $205 million and adjusted EBITDA between $50 million and $53 million. This growth is attributed to organic expansion from the company's proprietary specialty plasma therapies and its distribution business, according to recent company statements.
Chief Executive Officer Amir London emphasized that Kamada enters 2026 from a position of significant commercial and financial strength, with expectations for continued organic growth from its diverse commercial product portfolio marketed in over 30 countries. The projected growth is notable as it occurs despite reduced royalty payments from Takeda Pharmaceutical Co. Ltd. for GLASSIA, which London cited as evidence of the company's underlying operational strength and reduced dependency on external partnerships.
Primary growth drivers for 2026 include increased U.S. sales of specialty plasma-derived therapeutics and expanded international sales of products including KAMRAB®, GLASSIA®, HEPAGAM® and VARIZIG®. The company's Distribution segment is also expected to contribute significantly, particularly through the launch of additional biosimilar products in Israel and expansion into the Middle East and North Africa region, broadening Kamada's global footprint.
A central element of Kamada's growth strategy involves developing its own plasma collection capabilities through three Texas-based centers located in Houston and San Antonio. Each site has an annual collection capacity of approximately 50,000 liters of plasma, with an estimated annual revenue contribution of $8 million to $10 million per center at full operational capacity. By establishing internal plasma collection, Kamada reduces its dependency on third-party suppliers and positions its Kamada Plasma unit as a supplier for other industry peers, describing itself as one of a limited number of specialty plasma collection firms in the United States.
This vertical integration in Texas not only secures a critical raw material for Kamada's own therapies but also creates a new revenue stream by supplying plasma to other biopharmaceutical companies. The move enhances supply chain resilience and provides greater control over costs and quality, which is particularly important in the specialized plasma therapeutics market where consistent, high-quality plasma is essential for manufacturing.
Beyond organic growth initiatives, Kamada is actively pursuing new business development deals and strategic acquisitions. London expects these efforts will enrich the company's current portfolio and generate synergies with existing commercial operations, potentially accelerating growth beyond the current projections. The company anticipates ending 2025 with approximately $75 million in cash, providing financial flexibility for these strategic moves. Kamada plans to publish its 2025 financial results during the first half of March. Additional financial disclosures and forward-looking statements are available through the U.S. Securities and Exchange Commission at https://www.sec.gov.
The implications of Kamada's growth projections and Texas investments are significant for the state's biotechnology sector. The expansion of plasma collection operations represents a tangible economic impact, creating specialized jobs and establishing Texas as a key hub for plasma sourcing. For the broader biopharmaceutical industry, Kamada's move toward self-sufficient plasma collection could influence supply chain strategies, encouraging other firms to consider similar vertical integration to mitigate risks associated with third-party suppliers. For patients globally, the company's growth supports continued availability and potential expansion of critical plasma-derived therapies for various immune deficiencies and other conditions.
