Kamada is an Israeli biopharmaceutical company that develops, manufactures, and sells specialty plasma-derived therapies for rare and serious conditions. Its products are made by extracting and purifying antibodies (immunoglobulins) from donated human plasma to create hyperimmune treatments targeting specific diseases. Kamada's three most important products — KEDRAB, GLASSIA, and CYTOGAM — together account for roughly half of total revenues. KEDRAB is a human rabies immune globulin given after rabies exposure, sold in the U.S. through an exclusive distribution agreement with Kedrion, which has committed to minimum purchases of ~$180M over 2024–2027. GLASSIA is an intravenous treatment for alpha-1 antitrypsin deficiency, sold directly in select international markets and licensed to Takeda for the U.S. and Canada in exchange for royalties. CYTOGAM is the only FDA-approved plasma-derived CMV immunoglobulin, used to prevent CMV disease in organ transplant patients, and sold directly in the U.S. and Canada. Kamada's broader portfolio includes WINRHO SDF, VARIZIG, and HEPAGAM B — each holding the sole FDA-approved status for their specific indications. All proprietary products are manufactured at Kamada's FDA-registered facility in Beit Kama, Israel. Kamada also operates a Distribution segment in Israel, where it in-licenses and sells over 25 third-party pharmaceutical products to local hospitals and healthcare institutions. Beyond existing products, Kamada is expanding plasma collection centers in Texas to sell normal source plasma to third-party manufacturers and is actively pursuing acquisitions to broaden its commercial portfolio.