TacticScaleWhat ADMA Biologics Does & How It Makes Money (ADMA)
Updated October 2026 · reflects ADMA Biologics's latest reported financials
Maker of plasma-derived immune globulin therapies for immune deficiencies. It earns revenue by selling plasma-derived biologics such as BIVIGAM, ASCENIV and Nabi-HB through independent distributors, drug wholesalers, specialty pharmacies and alternate site providers.
How ADMA Biologics makes money
It earns revenue by selling plasma-derived biologics such as BIVIGAM, ASCENIV and Nabi-HB through independent distributors, drug wholesalers, specialty pharmacies and alternate site providers. It also operates plasma collection centers, which supply the source plasma used to make its products.
What ADMA Biologics does
ADMA Biologics is a U.S. biopharmaceutical company, headquartered in Ramsey, New Jersey, that develops, manufactures and markets specialty plasma-derived biologics for immune deficiencies and infectious diseases. Its commercial products are two intravenous immune globulin (IVIG) products, BIVIGAM and ASCENIV, both indicated for primary humoral immunodeficiency (PI), and Nabi-HB, a human polyclonal antibody used after acute exposure to hepatitis B. The company reports two segments, ADMA BioManufacturing and Plasma Collection Centers. Its own plasma collection facilities supply the raw material its manufacturing depends on. It sells through distributors, wholesalers and specialty pharmacies in the U.S. and internationally, and its pipeline includes a plasma-derived immunoglobulin approach to treating and preventing S. pneumoniae infection. The company was incorporated in 2004.
Products & services
- BIVIGAM
- ASCENIV
- Nabi-HB
- Source plasma collection centers
What is ADMA Biologics worth?
On an owner-earnings DCF, ADMA Biologics's most-likely value is about $20 versus a recent price near $10 (91% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$6) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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