ADMA Biologics Receives FDA Approval for Increased IVIG Production Scale
ADMA Increases Total Forecasted Plant Manufacturing Capacity from 400,000 Liters up to 600,000 Liters and Increases Total Forecasted Peak Revenues in Excess of $300 Million
Enhanced Gross Margins and Cost Efficiencies Expected to be Realized Beginning Late 2021 and Accelerate Throughout 2022 on Path to Profitability
RAMSEY, N.J. and BOCA RATON, Fla., April 28, 2021 (GLOBE NEWSWIRE) -- ADMA Biologics, Inc. (Nasdaq: ADMA) (“ADMA” or the “Company”), an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty plasma-derived biologics, announced that the U.S. Food and Drug Administration (“FDA”) has granted approval for the Company’s expanded manufacturing process, enabling fractionation and purification of a 4,400-liter plasma pool for the manufacture of Intravenous Immune Globulin (“IVIG”).
“The FDA approval of the 4,400-liter IVIG plasma pool production scale process is a transformative milestone for the ADMA organization and will allow the Company to produce significantly more IVIG for the U.S. market and for patients living with immune deficiencies,” said Adam Grossman, President and Chief Executive Officer of ADMA. “The expanded plasma pool production scale allows us to confidently commit to generating peak revenues in excess of $300 million and this approval solidifies the pathway to meaningful gross margin expansion beginning potentially in the second half of 2021 and accelerating throughout 2022. In addition to the increase in ADMA’s multi-year financial guidance, the Company is reiterating its expectation for quarter-over-quarter revenue growth throughout 2021 and beyond. We commend our employees’ dedication in achieving this important manufacturing milestone and look forward to increasing our production capacity rapidly over the forward-looking quarters.”
The 4,400-liter IVIG plasma pool scale for BIVIGAM will allow ADMA to expand its manufacturing plant’s total processing capacity from 400,000 liters to an anticipated peak throughput of up to 600,000 liters. ADMA now has FDA approval to produce BIVIGAM at an expanded capacity with the same high quality as the previous manufacturing scale, while using the same equipment, release testing assays, disposables and labor force. The Company anticipates this will translate into meaningful gross margin improvement as production throughput flows through the standard 7 to 12-month manufacturing cycle for plasma-derived therapies. With this approval, ADMA additionally will now be able to offer BIVIGAM in two vial sizes, both the 50 mL and 100 mL configurations.