Kamada Ltd. (NASDAQ: KMDA) announced a two‑year extension of its existing tender with Canadian Blood Services (CBS) for the supply of four specialty plasma‑derived products—WINRHO®, HEPAGAM®, CYTOGAM®, and VARIZIG®. The extension, valued at $10‑$14 million, will secure sales of these products in Canada from the second quarter of 2026 through the first quarter of 2028.
The tender covers products that are already approved by Health Canada and the U.S. Food and Drug Administration, ensuring regulatory compliance. CBS, which manages the national supply of blood products for all Canadian provinces and territories except Quebec, awarded the extension to maintain a stable supply chain for these high‑margin therapeutics. The contract’s annual revenue contribution of $5‑7 million represents roughly 3‑4 % of Kamada’s 2025 full‑year revenue of $178‑$182 million and is comparable to the $7.5 million per year Kamada secured under a three‑year extension in October 2022.
Kamada reiterated its 2025 full‑year revenue guidance of $178‑$182 million and adjusted EBITDA guidance of $40‑$44 million, while projecting double‑digit growth in revenues and profitability for 2026. The new tender extension adds a predictable revenue stream that supports the company’s broader growth strategy, which includes expanding plasma collection operations and developing biosimilar products. The extension also follows the discontinuation of a Phase 3 inhaled AAT trial, a headwind that Kamada has managed without impacting its guidance outlook.
CEO Amir London said the award “validates our position as the leading supplier of specialty plasma‑derived products in Canada” and highlighted the company’s continued confidence in the commercial potential of its AAT and specialty immunoglobulin portfolio in international markets. London emphasized that the extension reinforces Kamada’s strategy of securing long‑term agreements to underpin financial performance and fund future initiatives.
Overall, the tender extension provides Kamada with a stable, predictable revenue base in a key market, strengthens its competitive position, and supports the company’s confidence in maintaining its 2025 guidance and pursuing double‑digit growth in 2026. The deal underscores Kamada’s ability to secure and renew high‑value contracts, a critical factor for long‑term value creation.
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