ADMA Biologics

What ADMA Biologics does

ADMA Biologics is a vertically integrated commercial biopharmaceutical company that develops, manufactures, and commercializes plasma-derived immune globulin (IG) products for treating and preventing infectious diseases in immunocompromised populations. Headquartered in Ramsey, New Jersey, with a cGMP-compliant manufacturing campus in Boca Raton, Florida capable of processing approximately 600,000 liters of plasma annually, ADMA operates three FDA-approved products—ASCENIV™ (a hyperimmune IVIG with high-titer RSV and respiratory virus antibodies), BIVIGAM® (a 10% liquid IVIG), and Nabi-HB® (Hepatitis B Immune Globulin)—and reaches patients through specialty distributors, hospital and infusion center pharmacies, and integrated delivery network (IDN) procurement channels. End-markets include Primary Immunodeficiency (PI) patients—an estimated 250,000 people in the US based on a 1:1,200 prevalence rate—and Hepatitis B at-risk populations.

The company's core technical differentiation is a proprietary microneutralization assay that quantitatively measures neutralizing antibody titers against RSV in plasma donor samples, enabling selection of high-titer donors and tailored plasma pool compositions. This approach is protected by US Patents 9,107,906, 9,714,283, and 9,815,886 covering ASCENIV's composition, use, and manufacturing methods, with expiration in 2035. ADMA controls the supply chain end-to-end via seven plasma collection centers under its ADMA BioCenters subsidiary, in-house fractionation and purification, and Cytiva SA25 robotic aseptic fill-finish with VHP sterilization and single-use disposable flowpath. The Boca Raton facility is FDA-licensed and supports a CDMO service offering that the company markets to external pharmaceutical and biotech clients.

ADMA generates revenue primarily from product sales of ASCENIV, BIVIGAM, and Nabi-HB to specialty distributors, pharmacies, and healthcare providers, with reimbursement through government and commercial payors. Secondary revenue comes from CDMO services leveraging excess manufacturing capacity and from the ADMAlytics™ AI-assisted manufacturing optimization platform. Full-year 2025 revenue reached $509.9 million, up 54% year-over-year, with EBITDA more than doubling to $214.8 million and Q1 2026 gross margin expanding to 71%. Forward visibility is, however, clouded by the May 2026 withdrawal of long-term guidance following a Culper Research short-seller report alleging channel stuffing, securities class action litigation, and the abrupt February 2026 departure of the prior CFO.

Name

ADMA Biologics

Legal name

ADMA Biologics, Inc.

Website

https://admabiologics.com

Company type

Public

Founded year

2007

Operating status

Operating

Headcount range

501–1,000 employees

Short description

ADMA Biologics is a vertically integrated biopharmaceutical company that develops and commercializes plasma-derived immune globulin products—ASCENIV, BIVIGAM, and Nabi-HB—for treating immunocompromised patients with primary immunodeficiency and Hepatitis B risk, leveraging proprietary microneutralization technology and end-to-end manufacturing.

Ownership category

akta.pro rank

Headquarters

HQ city

Ramsey

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Product Sales (ASCENIV, BIVIGAM, Nabi-HB): ADMA Biologics generates the majority of its revenue from the sale of three FDA-approved immune globulin products: ASCENIV (immune globulin intravenous, human–slra), BIVIGAM (Immune Globulin Intravenous, Human, 10% Liquid), and Nabi-HB (Hepatitis B Immune Globulin, Human). Revenue is derived from sales to specialty distributors, pharmacies, and healthcare providers, with reimbursement through government and commercial payors.
2. Contract Manufacturing (CDMO): ADMA Biologics offers contract development and manufacturing organization (CDMO) services leveraging its FDA-approved manufacturing facility, including clinical-stage and commercial aseptic filling and final packaging. The company targets both public and private sector clients and utilizes excess manufacturing capacity to generate additional revenue.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

ADMA Biologics is a vertically integrated specialty biopharmaceutical company that develops, manufactures, and commercializes three FDA-approved plasma-derived immune globulin products: ASCENIV (hyperimmune IVIG with high RSV titers), BIVIGAM (standard 10% liquid IVIG), and Nabi-HB (hepatitis B immune globulin). The company operates 7 corporate-owned plasma collection centers (ADMA BioCenters) and an FDA-licensed cGMP manufacturing facility with approximately 600,000 liters of annual plasma fractionation capacity, and additionally offers contract development and manufacturing organization (CDMO) services to external pharmaceutical clients.

Product overview

ADMA Biologics is an end-to-end commercial biopharmaceutical company with three FDA-approved immune globulin products: ASCENIV™ (hyperimmune IVIG with RSV and respiratory virus antibody titers), BIVIGAM® (standard 10% liquid IVIG), and NABI-HB® (hepatitis B immune globulin). The company operates a vertically integrated model combining its proprietary patented immunotechnology, in-house plasma collection through ADMA BioCenters, manufacturing with up to ~600,000 L annual plasma fractionation capacity, and contract CDMO services. The portfolio is complemented by the ADMAlytics™ AI platform for manufacturing optimization.

Differentiator

Problem solved

Functional benefit

Brands

• ADMA BioCenters: Plasma collection centers for raw material supply
• ASCENIV
• BIVIGAM
• Nabi-HB
• ADMA ADvantage

Products and services

• ASCENIV (Immune Globulin Intravenous, Human-slra) FDA-approved hyperimmune immune globulin product containing high titers of neutralizing antibodies to RSV and other respiratory viruses; indicated for treatment of primary immunodeficiency in patients two years of age and older, providing passive immunity to immunocompromised patients at risk for respiratory infections.
• BIVIGAM (Immune Globulin Intravenous, Human), 10% Liquid FDA-approved 10% liquid intravenous immune globulin product for the treatment of primary immunodeficiency and other immune compromised patient populations.
• Nabi-HB (Hepatitis B Immune Globulin, Human) FDA-approved hepatitis B immune globulin product for prevention of hepatitis B infection in specific at-risk patient populations, including post-exposure prophylaxis.
• Contract Manufacturing Services (CDMO) End-to-end contract development and manufacturing organization (CDMO) services including clinical-stage and commercial aseptic filling, final packaging, and finishing capabilities using the FDA-approved Cytiva SA25 filling machine with validated VHP sterilization and single-use disposable flowpath. Offered to external pharmaceutical and biotech clients including public and private sector opportunities.
• ADMA BioCenters Plasma Collection Services Plasma collection services operated through 7 corporate-owned plasma collection centers under the ADMA BioCenters corporate umbrella, providing raw material plasma supply for ADMA's vertically integrated biologics manufacturing.

Quantifiable outcome

• Revenue grew 54% from $330.2 million to $509.9 million year-over-year, with EBITDA more than doubling to $214.8 million.
• +3 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core and minor.

• KPMG LLPcoreOthersKPMG LLP serves as ADMA Biologics' independent auditor, headquartered at 677 Washington Boulevard, 4th Floor, Stamford, CT 06901-3707.
• Morgan, Lewis & Bockius LLPcoreOthersMorgan, Lewis & Bockius LLP serves as ADMA Biologics' legal counsel, with offices at 502 Carnegie Center, Princeton, NJ 08540-6289.
• Continental Stock Transfer & TrustminorOthersContinental Stock Transfer & Trust serves as ADMA Biologics' stock transfer agent, located at 17 Battery Place, New York, NY 10004.
• Jeffrey Modell FoundationminorStrategic or Co-development PartnerADMA Biologics is a proud supporter of the Jeffrey Modell Foundation, a global nonprofit dedicated to early diagnosis, treatments, and ultimately future cures for Primary Immunodeficiency through awareness, advocacy, and research.
• Immune Deficiency FoundationminorStrategic or Co-development PartnerADMA Biologics supports the Immune Deficiency Foundation, a nonprofit committed to improving the diagnosis, treatment, and quality of life of people affected by Primary Immunodeficiency through fostering a community empowered by advocacy, education, and research.

Scale indicators10 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Grifols: Spanish-listed global leader in plasma-derived therapies with the largest private plasma collection network. Directly competes in IVIG, hyperimmune globulins, and plasma fractionation against ADMA's ASCENIV, BIVIGAM, and Nabi-HB.
• CSL Behring: Subsidiary of CSL Limited and one of the world's largest manufacturers of plasma-derived therapies, including IVIG (Privigen, Hizentra) and hyperimmune products. Closest direct competitor to ADMA across PI, immunoglobulins, and specialty biologics.
• Takeda Pharmaceutical (Plasma-Derived Therapies): Owns the former Shire plasma-derived portfolio including Gammagard (IVIG) and HyperRAB/SHP (hyperimmune globulins). Direct competitor in IG and HBV prophylaxis and an established vertically integrated plasma manufacturer.
• Octapharma: Swiss-headquartered privately held plasma fractionator with a broad IVIG (Octagam) and hyperimmune portfolio. Competes directly with ADMA's immune globulin products in the US PI and specialty markets.
• Kedrion Biopharma: Italy-based plasma products company with US commercial presence and IVIG/specialty immune globulin offerings. Competes with ADMA across immunoglobulin therapies and has overlapping leadership pedigree (Lawrence Guiheen was CCO of Kedrion).
• Bio Products Laboratory (BPL): UK-based plasma fractionator with US-approved IVIG and hyperimmune globulin products. Directly competes in the IG market and is comparable in scale of plasma-derived portfolio to ADMA.

Emerging players

• Emergent BioSolutions: Specialty biopharmaceutical company with a portfolio of plasma-derived hyperimmune products (e.g., CYTOGAM, VARIZIG, HEPAGAM). Overlaps with ADMA's hyperimmune and HBV prophylaxis focus, particularly around specialty immune globulins.

Broad incumbents

• Sanofi (Specialty Care): Global pharmaceutical company with immunology and rare disease franchises including immune globulin adjacencies and Dupixent. Broader incumbent with overlapping immunology capabilities but not a pure-play plasma competitor.
• Pfizer (Specialty/Immunology): Large incumbent pharmaceutical company with broad specialty care and rare disease offerings. Not a pure-play plasma player, but competes for hospital formularies and immunology prescriber mindshare relevant to ADMA's market access motion.
• Johnson & Johnson (Innovative Medicine): Large diversified biopharmaceutical incumbent with immunology franchises (e.g., Stelara, Tremfya) and prior plasma-derived product exposure. Comparable as a broad immunology/specialty incumbent competing for specialty prescriber attention and reimbursement dollars.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/adma-biologics-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Subsidiaries1 record

Funding overview

Funding rounds19 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ADMA Biologics