ADMA Biologics Inc (NASDAQ: ADMA) is a specialty biologics company that manufactures and commercializes plasma-derived immunoglobulin therapies. Revenue comes from product sales of its FDA-approved biologics, primarily ASCENIV and BIVIGAM, sold to third-party customers including distributors and healthcare providers. ADMA controls its own source plasma collection operations, which feed its manufacturing process for finished drug products. The company depends on FDA-approved plasma with specific antibody specifications and uses a consortium of third-party release testing laboratories listed in its drug approval documents. Regulatory approvals from the FDA are central to the business model, as all products must meet current Good Manufacturing Practices (cGMP) standards before commercial release. Per the 10-K filed 2026-02-25 (accession 000114036126006815), ADMA is focused on expanding commercialization of ASCENIV and BIVIGAM and growing its source plasma supply infrastructure.

Revenue model

Transactional product sales of FDA-approved plasma-derived immunoglobulin biologics, primarily ASCENIV and BIVIGAM, to third-party customers including distributors and healthcare providers.

Products and services

ASCENIV (intravenous immune globulin), BIVIGAM (intravenous immune globulin), source plasma collection, and plasma-derived biologic manufacturing.

Customers and end markets

Third-party customers including distributors and healthcare providers in the U.S. immunoglobulin therapy market. End patients are individuals requiring immunoglobulin replacement or treatment therapies.

Value-chain role

Vertically integrated plasma-derived biologics manufacturer: source plasma collection, fractionation, manufacturing, and commercial sale of finished drug products.

Geographic exposure

United States, based on FDA regulatory framework and U.S.-approved plasma collection and manufacturing operations referenced in the 10-K filed 2026-02-25.

Source: SEC 10-K, filed 2026-02-25

Industry: Biological Products, (No Diagnostic Substances) Peers: Alaunos Therapeutics Inc Allakos Inc. Aura Biosciences Inc Entrada Therapeutics Inc Imago BioSciences, Inc. Precigen Inc Lexicon Pharmaceuticals Inc Rallybio Corp