Kamada posts record first-half revenue of $100.2M, up 13% YoY
Biopharma firm Kamada reports its highest half-year revenue on record, driven by strong demand for plasma-derived therapies.
Kamada Ltd. on Monday reported record revenue of $100.2 million for the first half of 2024, an increase of 13% from the same period last year.
The biopharmaceutical company, which specializes in plasma-derived therapies, attributed the growth to higher demand for its immunoglobulin and albumin products. Revenue for the second quarter alone reached $52.3 million, up 14% year-over-year.
Gross profit for the six-month period rose to $56.5 million, while net income increased to $15.8 million, compared with a net loss of $5.2 million in the first half of 2023. The company cited improved operational efficiency and expanded production capacity as key drivers behind the financial performance.
Kamada’s plasma-derived therapies are used to treat rare and serious conditions, including primary immunodeficiency and inflammatory myopathies. The company operates plasma collection and fractionation facilities in Israel and the United States.
Chief Executive Officer Amir London stated that the results reflect strong execution across the business and growing adoption of its therapies globally.
Shares of Kamada were indicated higher in pre-market trading following the announcement.
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