Clinigen Group plc (AIM: CLIN, ‘Clinigen’ or the ‘Group’), the global pharmaceutical and services company, today provides an unaudited trading update for the six months ended 31 December 2018.
Revenues increased by around 24% on a reported basis and by around 25% on a constant currency basis* compared to last year. Gross profit** increased by around 25% on a reported basis and by around 27% on a constant currency basis* in line with the Board’s expectations.
The Group completed two corporate acquisitions, CSM and iQone, in October 2018 and two product acquisitions, Proleukin® and Imukin®, in July 2018. Both of the acquired businesses have performed well.
Shaun Chilton, Group Chief Executive Officer of Clinigen, said:
“The Unlicensed Medicines portfolio performed well as anticipated, starting a number of new programs, and we have diversified our Commercial Medicines portfolio with the purchase of two specialty medicines. We are already seeing the operational benefit of combining CTS with the clinical trial capabilities of the recently acquired CSM, which when combined with iQone, also acquired in October 2018, enhance our European and US infrastructure for the benefit of all our businesses.
“We are well positioned to deliver another good year of progress.”
The Group expects to publish its interim results for the six months ended 31 December 2018 on Wednesday 27 February 2019.
* Constant currency is growth applying prior period’s actual exchange rate to this period’s result.
** Gross profit growth rates exclude the release of the fair valuation on inventory from business acquisitions.
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and services company with a unique combination of businesses focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time through three areas of global medicine supply; clinical trial, unlicensed and licensed medicines. The Group has sites in North America, Europe, Africa and Asia Pacific.
Clinical Trial Services
Clinigen is the global market leader in the specialist supply, packaging, distribution and management of quality-assured comparator medicines and services to clinical trials and Investigator Initiated Trials.
Clinigen is the global leader in ethically sourcing and supplying unlicensed medicines to hospital pharmacists and physicians for patients with a high unmet medical need. The Group manages early access programmes to innovative new medicines and provides ‘on demand’ access globally to medicines which remain unlicensed at the point of care.
Clinigen acquires global rights to niche hospital only and critical care products, revitalising these assets around the world and returning them back to sustained growth. It also provides access to licensed and branded generic medicines in the Africa and Asia Pacific region.
The Group also has an ‘unlicensed to licensed’ strategy, where it looks to take unlicensed medicines with commercial potential and licences them, helping to address unmet medical need and allowing the Group to capitalise on its market-leading positions.
For more information on Clinigen, please visit www.clinigengroup.com
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. 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. Except as required by law, 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.
The information contained in this statement has not been audited and may be subject to further review.
Issued for and on behalf of Clinigen Group plc by Instinctif Partners.
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Melanie Toyne-SewellManaging Partner