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Clinigen Group plc: Preliminary Results for the year ended 30 June 2013

Clinigen Group plc: Preliminary Results for the year ended 30 June 2013

Burton-on-Trent, UK – 25 September 2013 – Clinigen Group plc (‘Clinigen’ or the ‘Group’) (AIM: CLIN), the global specialty pharmaceuticals business, has today published its preliminary results for the 12 months ended 30 June 2013.

Financial highlights

  • Group revenue up by 49% to £122.6m (FY12: £82.1m) driven by strong organic growth across all three operational businesses
    • Clinigen CTS full year sales up 49% to £87.8m and full year gross profit up 13% to £11.4m
    • Clinigen GAP revenue grew more than six-fold to £10.5m; full year gross profit was up more than five-fold to £3.9m
    • Clinigen SP full year sales of £24.3m (+12%) and full year gross profit of £19.8m (+8%)
  • Underlying EBITDA increased by 30% to £22.4m (FY12: £17.3m)
  • Underlying pre-tax profit increased by 29% to £20.4m (FY12: £15.8m) and reported pre-tax profits increased by 42% to £14.5m (FY12: £10.3m)
  • Underlying earnings per share up 38% to 18.5 pence (FY12: 13.4 pence) and reported earnings per share 15.1 pence (FY12: 13.2 pence)
  • Cash generation continues to be strong; cash and cash equivalents at 30 June 2013 were £11.3m, up from £5.2m at 30 June 2012
  • Final dividend of 2.0 pence per share proposed, bringing the total dividend to 2.6 pence per share

Business highlights

  • Clinical Trial Supply (“CTS”)
    • Sales performance driven by sizable anti-viral studies and increased activity in the US
    • In June, extension of exclusive EU supply agreement with Accord Healthcare
  • Global Access Programs (“GAP”)
    • Awarded Sanofi’s Campath and Astellas’ MDV3100 early access programs
    • In July, BTG awarded a third access program to Clinigen and, in September, Eisai selected Clinigen to manage an access program in German
  • Specialty Pharmaceuticals (“SP”)
    • Foscavir® sales volume continued to grow, with further expansion into the US and new indications in Europe
    • Exclusive commercialization agreement in EU for Antibacterial, VIBATIV®
    • Acquisition of oncology support therapy, Cardioxane® for US$33m

Peter George, Chief Executive Officer, said:

“We have over-delivered on our commitments made at the time of the IPO last September. In turn, the listing on AIM has lived up to our expectations. It has provided a stronger platform from which to drive our organic growth, both in the UK and internationally, as well as giving us additional financial flexibility to support our acquisition plans and the acceleration of our international growth strategy. The IPO has also enabled greater investment in the infrastructure and recruitment of additional high quality people to the business.

“Our ambition for the next financial year is to maintain this momentum across all three operating businesses; principally organic growth for CTS and GAP, and through further acquisition of products for SP. Geographically, we are focusing our attention on the US, Latin America and Asia.

“With a sound financial base, an increasing international footprint, as well as the recent organizational changes, we have the right foundations to continue the scale-up of the business and maintain our growth.”


Notes for Editors

An audio replay file will be made available via the Company's website: www.clinigengroup.com

For the full release, please visit  www.clinigengroup.com.     

About Clinigen Group
The Clinigen Group is a specialty global pharmaceutical company headquartered in the UK, with offices in the US and Japan. Listed at The London Stock Exchange AIM, the Group has three operating businesses; Specialty Pharmaceuticals (Clinigen SP), Clinical Trials Supply (Clinigen CTS), and Global Access Programs (Clinigen GAP). Clinigen SP focuses on acquiring and in licensing specialist, hospital only medicines worldwide and commercializing them within niche markets. Clinigen CTS sources commercial medical products for use in clinical studies, including comparator drugs, adjuvant drugs and rescue therapies. Clinigen GAP specializes in the consultancy, development, management and implementation of programs, providing global access for patients and their clinicians to drugs not available in their markets. For more information, please visit www.clinigengroup.com.

Forward-looking statement
This announcement contains certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Clinigen Group plc (“Clinigen”). These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. Clinigen undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances.
 

Issued for and on behalf of Clinigen Group.

To contact the Clinigen team at College Hill, email Clinigen@collegehill.com

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