Adma Biologics: Up On Manufacturing And Supply Agreement For Plasma: derived products
07/01/2020 13:43
** Shares of plasma-based therapy developer ADMA.O up 9%
at $4 premarket; set for their best day in nearly 7 months
** ADMA announces 5-year manufacturing and supply agreement
with an undisclosed partner to produce and sell plasma-derived
products from its U.S. FDA approved Immune Globulin
manufacturing process urn:newsml:reuters.com:*:nGNX16wBCv
** "We will now be able to generate additional revenue over
and above the sales of the FDA-approved drugs themselves" - ADMA
** Co says agreement expected to add between $5 mln and $10
mln to annual revenue for 2020 and 2021, respectively
** Believes contract has potential to generate between $10
mln and $20 mln per year from 2022 through 2024
** Up to Monday's close, stock had risen ~17% in the last 12
months
(Reporting by Dania Nadeem in Bengaluru)
((Dania.Nadeem@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6749 0647;))