TLDR
- Kamada stock climbs 6.92% to $7.73 as a new plasma contract supports growth.
- Kamada secures a three-year, $50 million supply deal for U.S. source plasma.
- Q3 gross margin reaches 45% as KEDRAB, VARIZIG, and HEPAGAM strengthen sales.
- Distribution revenue rises 35% following new biosimilar launches in Israel.
- Kamada lifts 2026 revenue guidance to 205M-208M and declares a Q4 dividend.
Kamada Ltd. surged 6.92% to $7.73, gaining $0.50 as the company reported stronger business performance. The specialty plasma manufacturer secured a $50 million supply agreement and raised its full-year 2026 financial guidance. Higher demand for key treatments and expanding distribution operations also supported the company’s growth outlook.
Kamada Secures $50 Million Plasma Supply Agreement
Kamada signed a three-year agreement worth $50 million to supply normal source plasma through its U.S. collection operations. The contract marks an important commercial milestone for the company’s strategy to expand its plasma supply capabilities. The agreement establishes a revenue stream from operations that support its broader manufacturing and supply network.
The company continues developing its U.S. plasma collection centers to strengthen control over its raw material supply. This vertical integration strategy aims to improve production efficiency and support long-term growth across its specialty plasma portfolio. Kamada has not yet incorporated the benefits of internally sourced specialty plasma into its reported margins.
Management confirmed that validation batches remain underway as the company advances its internal plasma utilization plans. Kamada continues investing in collection infrastructure while maintaining its commercial operations and product development activities. The company also considers acquisitions an important part of its strategy to expand beyond existing organic growth opportunities.
Specialty Plasma Demand Drives Strong Q3 Performance
Kamada reported a 45% gross margin during the third quarter, reflecting improvements in its product sales mix. Stronger demand for KEDRAB in the United States contributed to performance across its core commercial portfolio. VARIZIG and HEPAGAM supported sales growth as the company maintained its focus on specialty plasma treatments.
KEDRAB benefited from increased U.S. demand following a health advisory from the Centers for Disease Control and Prevention. Kamada maintained sufficient manufacturing capacity and product availability to meet the additional demand from healthcare providers. The company continued strengthening its market presence through existing commercial relationships and reliable product supply.
The distribution business recorded 35% revenue growth as Kamada expanded its product offerings and regional agreements. During the quarter, the company launched Ustekinumab-Kamada and Enoxaparin-Kamada in Israel to strengthen its biosimilar portfolio. It also expanded distribution agreements across the Middle East and North Africa, creating additional opportunities for future sales.
Kamada Raises 2026 Revenue Guidance and Dividend
Following its latest performance, Kamada increased its 2026 annual revenue forecast to between $205 million and $208 million. Management also raised its adjusted EBITDA guidance to a range of $52 million to $54 million. The revised outlook reflects stronger commercial demand, distribution growth, and improved profitability across the business.
Kamada expects double-digit revenue and profitability growth throughout 2027 as its business continues expanding. The company plans to introduce at least two additional biosimilar products during 2027 to strengthen distribution revenue. Management projects annual biosimilar sales of approximately $10 million by 2028 and $20 million to $25 million by 2030.
Kamada also announced a fourth-quarter cash dividend of $0.14 per share, continuing its shareholder return program. The payment will bring total shareholder distributions for 2026 to approximately $32.3 million, according to management. The company plans to balance dividend payments with organic expansion, plasma collection investments, and potential acquisitions.
