Kamada Ltd., a specialty plasma-derived therapeutics company, reported record financial results for 2024 and outlined an ambitious growth strategy for 2025, projecting continued double-digit expansion and increased market presence.
The company achieved an annual revenue of $161 million in 2024, representing a 13% increase from the previous year. Net income reached $14.5 million, a substantial 75% improvement over 2023, while maintaining robust operational efficiency with an adjusted EBITDA of $34.1 million, up 42% year-over-year.
Management anticipates total 2025 revenue between $178 million and $182 million, signaling approximately 12% growth. Key revenue drivers include six FDA-approved plasma-derived specialty therapies, with particular emphasis on KEDRAB, a human rabies immune globulin, and CYTOGAM, an immunoglobulin product for organ transplant patients.
The company is also expanding its biosimilar portfolio in Israel, expecting to launch 1-3 products annually, with potential annual sales of $15-20 million within five years. Additionally, Kamada is developing an inhaled alpha-1 antitrypsin therapy targeting a market potentially exceeding $2 billion.
Strategic global expansion is another focus, highlighted by a recent $25 million contract to supply rabies and anti-varicella treatments in South America through 2027. The company is also opening a third plasma collection facility in San Antonio, Texas, expected to contribute $8-10 million in annual revenue and reduce dependence on third-party suppliers.
CEO Amir London emphasized the company's commitment to business development and in-licensing opportunities to accelerate revenue growth and ensure long-term sustainability. These strategic moves position Kamada to capitalize on the critical role of plasma-derived medicines in addressing rare and serious medical conditions.
