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ADMA Biologics Inc.

ADMA.US | Manufacture of pharmaceuticals, medicinal chemical and botanical products

ADMA Biologics, Inc. is a biopharmaceutical company dedicated to developing, manufacturing, and marketing specialty plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases. The company's product portfolio includes BIVIGAM® (immune globulin ...Show More

Ethical Profile

Mixed.

ADMA Biologics focuses on developing plasma-derived biologics like BIVIGAM and ASCENIV, directly improving health for those with immune deficiencies and preventing Hepatitis B. However, the company has faced scrutiny, including an investigation for potential securities law violations following its accounting firm's resignation, which allegedly led to a stock price drop of over 20%. Critics also point to ADMA Biologics' confirmed use of animal testing in product development. While the company has whistleblower protection and anti-bribery policies, detailed information on fair labor practices, environmental impact, or ethical sourcing remains largely unavailable.

Value Scores

Better Health for All0
-100100
Fair Money & Economic Opportunity0
-100100
Fair Pay & Worker Respect0
-100100
Fair Trade & Ethical Sourcing0
-100100
Honest & Fair Business-50
-100100
Kind to Animals-60
-100100
No War, No Weapons0
-100100
Planet-Friendly Business-20
-100100
Respect for Cultures & Communities0
-100100
Safe & Smart Tech0
-100100
Zero Waste & Sustainable Products-30
-100100

Better Health for All

0

ADMA Biologics' core mission is to develop and commercialize FDA-approved specialty biologics for the treatment and prevention of infectious diseases in immune-compromised and at-risk patient populations.

1
All of its products, including BIVIGAM, ASCENIV, and Nabi-HB, are designed to provide exceptional health benefits.
2
For instance, ASCENIV demonstrated a statistically significant reduction of more than 50% in infection rates in primary immunodeficiency patients, from 2.1 infections per year on prior therapy to 0.9 infections per year on ASCENIV, and its Phase 3 clinical trial reported no serious bacterial infections or serious adverse events.
3
The company has no products with significant negative health impacts. Regarding safety, BIVIGAM's prescribing information includes a boxed warning for potential thrombosis, renal dysfunction, and acute renal failure, and common adverse reactions were reported in at least 5% of clinical study subjects.
4
However, the company demonstrates exceptional risk transparency by providing comprehensive disclosures, including boxed warnings, contraindications, warnings, precautions, and adverse reactions in product prescribing information.
5
It also employs proactive risk management committees, conducts internal effectiveness reviews, and enlists independent third-party experts for compliance evaluations.
6
In clinical trials, ADMA adheres to Institutional Review Board (IRB) approval, considers special ethical considerations for studies involving children, and commits to not providing financial support to influence outcomes.
7
The company plans to submit ASCENIV results for peer-reviewed publication and presentation at the Clinical Immunology Society (CIS) 2026 Annual Meeting, demonstrating transparency in reporting.
8
ADMA Biologics focuses on underserved and immune-compromised patient populations, expanding BIVIGAM's FDA approval to pediatric patients aged 2 years and older.
9
The company is dedicated to advancing specialty biologic products, supports investigator-initiated research, and is developing a pipeline product, SG-001, for Streptococcus pneumoniae prevention.
10
It also provides grants and sponsorships for medical centers and patient organizations, supports independent educational programs for healthcare professionals, and offers training on privacy and sensitive information protection.
11
The company engages in payer negotiations to expand product coverage and reimbursement.
12

Fair Money & Economic Opportunity

0

ADMA Biologics is a biopharmaceutical company that develops, manufactures, and markets plasma-derived biologics for immune deficiencies and infectious diseases

1
. The company's core business does not involve offering lending, deposit, or other financial services to consumers. While ADMA provides a patient support hub (ADMA ADvantage Ig™ program) to help patients maximize insurance benefits, minimize treatment costs, and locate alternative funding options for its medical products
2
, this is not considered a financial service in the context of the 'Fair Money & Economic Opportunity' value. The KPIs are designed for financial institutions or companies offering financial products/services. Therefore, all KPIs related to financial services are not applicable.

Fair Pay & Worker Respect

0

The company reported a CEO pay ratio of 99 to 1, with the median employee's annual total compensation being $80,331.

1
As of December 31, 2023, ADMA had 624 full-time employees and anticipates hiring additional staff.
2
The company's Code of Ethics and Business Conduct Standards include provisions related to environment, health, and general safety, and a commitment to providing a safe, orderly, diverse, and tolerant work environment free of discrimination or harassment.
3
The company states it pursues fair employment practices and strives for a diverse Board and employee base.
4
Premiums for medical benefits and life insurance coverage are paid for named executive officers.
5
A schedule of collective bargaining agreements exists, but the percentage of employees covered is not provided.
6
Two delinquent Section 16(a) reports were filed for executives in January 2024, which are securities reporting violations, not labor-law or human-rights violations.
7

Fair Trade & Ethical Sourcing

0

No specific quantitative data or verifiable metrics related to fair trade and ethical sourcing, such as fair-trade certification share, audit frequency for suppliers, substantiated forced or child labor incidents, traceability coverage, remediation speed, ethical clause coverage in supplier contracts, materials risk index, or supplier diversity spend, were found in the provided articles. While ADMA Biologics' Code of Conduct, updated in September 2025, applies to suppliers

1
and prohibits child and forced labor
2
, and the company states it supports internationally recognized human rights
3
, no numerical data on these specific KPIs is available.

Honest & Fair Business

-50

ADMA Biologics is currently under investigation for potential securities law violations, initiated in October 2024

1
, following the surprise resignation of its independent auditor, CohnReznick LLP, on October 9, 2024
2
, which led to a >20% stock drop.
3
KPMG, a "top four" accounting firm, has since been engaged as the new independent registered public accounting firm.
4
The company's previous financial filings do not require restatements
5
, though there was a delay in filing Form 10-K due to third-party service provider controls and internal control assessment.
6
A formal whistleblower protection policy exists, including anti-retaliation provisions
7
, but specific details like hotline statistics are not provided.
8
An anti-bribery/anti-corruption policy is in place with training provided
9
, but specific details on enforcement or third-party due diligence are not available.
10
Independent third-party experts evaluate the effectiveness of the Ethics & Compliance Program
11
, but no specific certifications or external audit opinions are mentioned.
12

Kind to Animals

-60

ADMA Biologics develops plasma-derived therapeutics, inherently involving animal testing, and is listed on crueltyfreeinvesting.org's 'use of animals' list

1
. No products are certified cruelty-free, and all key ingredients (plasma) are animal-derived with no mentioned ethical alternatives or substitution plans. The company's animal testing policy, updated September 2025, states that animal use is justified only for human and animal health benefits
2
, only in the absence of acceptable alternatives (Replacement)
3
, and must meet the principles of Replacement, Reduction, and Refinement (3Rs)
4
. R&D activities require established scientific merit, legal and ethical rationale, and rigor before animal use is authorized
5
. Despite this, initial animal data for the SG-001 product is anticipated before year-end 2025
6
, indicating continued reliance on animal testing for new product development. No specific animal testing volume data or reduction targets are provided. There is no evidence that any of the company's animal-related operations hold recognized humane certifications. While external partners performing animal research must obtain accreditation
7
, there is no evidence of ADMA auditing its animal-related suppliers for welfare compliance. There is no evidence of the percentage of R&D budget invested in animal-free technologies. The company does not engage in animal agriculture or the sourcing of eggs, meat, or dairy. Furthermore, there is no mention of formal collaborations for animal-free research and development or active engagement in animal welfare policy advocacy.

No War, No Weapons

0

ADMA Biologics is a biopharmaceutical company focused on developing, manufacturing, and marketing plasma-derived biologics for immune deficiencies and infectious diseases.

1
The provided articles contain no evidence indicating that ADMA Biologics is involved in arms manufacturing, military contracts, conflict facilitation, or any defense-related activities. While a "DoD-ADM facility" is mentioned, the article explicitly states this facility is a partnership between the Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) and Ology Bioservices (now National Resilience), not ADMA Biologics.
2
Therefore, no relevant data was found for any of the specified KPIs.

Planet-Friendly Business

-20

ADMA Biologics, Inc. has no specific regulatory actions, violations, fines, or compliance issues mentioned in the provided information.

1

Respect for Cultures & Communities

0

ADMA Biologics has 3 formal partnership agreements with patient advocacy groups: the Jeffrey Modell Foundation, the Immune Deficiency Foundation, and SCID Angels for Life.

1
The company has no reported cultural appropriation incidents
2
and is described as "Human Rights Safe" with no links to genocide, war crimes, or oppressive regimes.
3
ADMA is committed to conducting business without harm to people
4
and follows international declarations and conventions, including the UN Guiding Principles on Business and Human Rights and the UN Universal Declaration of Human Rights.
5
Code of Conduct training, which includes diversity, equity, and inclusion, is mandatory for all employees and certain third parties, and all directors, officers, and employees must sign an annual certification of compliance.
6
The Governance and Nominations Committee considers local or community ties when identifying candidates for Board membership.
7
The Audit Committee is responsible for monitoring and enforcing compliance with the Code of Ethics and Business Conduct Standards,
8
and the company has a whistleblower policy for accounting and auditing concerns.
9

Safe & Smart Tech

0

Any communication with the company's website or via email is explicitly stated as non-confidential, and the company has no obligation to refrain from reproducing, publishing, or otherwise using third-party information for any purpose, including its own commercial purposes.

1
Personally identifiable information is collected only when voluntarily provided by a website user, but this broad usage policy indicates no meaningful user control over submitted data.
2
An IT systems disruption occurred on June 19, 2023, but the company reported no original financial systems data loss or evidence of data exfiltration, and normal operations resumed.
3
The company has policies and systems to preserve data integrity and confidentiality, and no incidents of unauthorized data use are documented.
4
A comprehensive training program, which includes privacy and protecting sensitive information, is mandatory for all employees and certain third parties upon hire and on a regular basis.
5
The company employs analytics in its online training programs to gauge effectiveness.
6
The company implements proactive risk management, including prompt identification, evaluation, prioritization, mitigation, and escalation of risks.
7
It utilizes third-party consultants for regular reviews, internal audits, threat prevention and detection, security reviews and enhancements, penetration testing, and full scope IT audits.
8
Security testing includes penetration testing and full scope IT audits conducted by third-party consultants.
9
The company states it is subject to and aims to comply with a wide array of state, federal, and international privacy and health regulations, including HIPAA, CCPA, GDPR, FTC Act, state breach notification laws, FDA, GHA, KMFDS, CLIA, DSCSA, and cGMP.
10
Its BioCenters facilities are currently in compliance with state and industry standards, and it holds numerous FDA and other international approvals/licenses.
11
The company has implemented an AI program, ADMAlytics, to improve efficiencies in its supply chain and production operations, but there is no information regarding AI ethics governance, audits, or algorithmic transparency.
12
No quantitative data on cybersecurity investment or specific privacy/security certifications are provided. There is no information on encryption implementation, authentication security, bug bounty programs, privacy by design, data minimization beyond voluntary collection, or digital rights advocacy.

Zero Waste & Sustainable Products

-30

ADMA has demonstrated strong material efficiency, decreasing its ethanol use by approximately 50% starting in 2025 due to process optimization, which also reduces waste generation.

1
The company plans to further enhance biologic production yield to capture additional product from the same raw materials. ADMA has implemented several waste reduction initiatives, including recovering ethanol from manufacturing waste for energy reuse instead of incineration
2
, sending substantially all filter material for energy recycling
3
, and utilizing a reusable sharps program in its plasma collection centers, leading to substantially fewer sharps containers going to landfills each week.
4
Employees are also encouraged to conserve resources and reduce waste through recycling.
5
The company is dedicated to the safe handling and management of all non-hazardous and hazardous materials, with employees responsible for appropriate waste management
6
and instructed on proper disposal methods.
7
No waste disposal violations are reported.
8
The company's waste management policy aims to achieve zero incidents, zero injuries, and zero spills or environmental harm
9
, reflecting a commitment to high environmental standards and pollution prevention
10
, though specific quantitative waste reduction targets with timelines are not provided.

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AI-generated analysis based on publicly available data. Not financial advice. Ratings are expressions of opinion derived from automated models and may contain inaccuracies. See our Risk Disclosure for full details.