Kamada (NASDAQ: KMDA) expands biosimilars portfolio with 2030 revenue guide

What happened

Kamada Ltd. (NASDAQ: KMDA) said on October 6, 2026, that it launched two additional biosimilar products in Israel. The new products are Ustekinumab-Kamada, a biosimilar to Stelara for plaque psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis, and Enoxaparin-Kamada, a biosimilar to Clexane. Kamada said Enoxaparin-Kamada is for prevention and treatment of thromboembolic disorders, including deep vein thrombosis and pulmonary embolism, and for some acute coronary syndrome settings.

The launch adds to Bevacizumab-Kamada and Pegfilgrastim-Kamada, which were launched in the Israeli market over the last two years. Kamada said all four biosimilar products were approved and launched as interchangeable with the reference original biologic product.

Key numbers

Metric	Latest	Change	Source
New biosimilar products launched in Israel	2 products		SEC 6-K exhibit 99.1
Existing commercial portfolio sales in 2026	$4 million		SEC 6-K exhibit 99.1
Existing commercial portfolio sales in 2028	$10 million	from $4 million, +150%	Calculated from SEC 6-K
Additional biosimilar products expected during 2027	at least 2 products		SEC 6-K exhibit 99.1
Strategic portfolio by 2030	at least 12 marketed products		SEC 6-K exhibit 99.1
2030 annual revenue guide	approximately $20 million-$25 million		SEC 6-K exhibit 99.1

Read more: Kamada (KMDA) stock analysis and investment case

Why it matters

OptimistFi's case is that Kamada can create value if its niche plasma-derived specialty-drug portfolio keeps growing while capital allocation turns that growth into cash and per-share earnings. This update supports that view by adding new commercial products and a clearer revenue path for the biosimilars line in Israel and the MENA region.

Kamada said its existing commercial portfolio of biosimilars is expected to generate approximately $4 million in sales in 2026, rising to approximately $10 million in 2028. That is a $6 million increase, or 150%, over two years. By 2030, Kamada expects at least 12 marketed products licensed from six international biosimilar companies and annual revenue of approximately $20 million to $25 million.

The filing also says Kamada is focused on profitable growth through four growth pillars and is ramping up plasma collection operations to support revenue growth and meet demand for hyper-immune plasma. It owns three FDA-approved operating plasma collection centers in Beaumont, Houston and San Antonio, Texas. The filing names FIMI Opportunity Funds as the controlling shareholder, with approximately 38% of the outstanding ordinary shares.

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What's next

Kamada expects at least two additional biosimilar products to become commercially available during 2027. The company also expects more licensed biosimilars to be in development or registration by 2030. If those launches arrive on time, they would support the 2028 sales bridge and the 2030 revenue range. If they do not, the ramp weakens. By 2030, the portfolio is expected to be commercialized in Israel and the MENA region.

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