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Clinigen completes acquisition of US rights to Proleukin

Clinigen completes acquisition of US rights to Proleukin

Clinigen Group plc (AIM: CLIN, 'Clinigen' or the 'Group'), the global pharmaceutical and services company, has completed the acquisition of the US rights to Proleukin® (aldesleukin, human recombinant interleukin-2), following US anti-trust clearance.

The Group now owns the global rights to Proleukin, having acquired the rest of world rights in July 2018.

Proleukin is indicated for metastatic melanoma and metastatic renal cell carcinoma in the US and it is currently being used in around 80 active clinical studies within the US across multiple disease areas.

The acquisition will be modestly EPS accretive in the current financial year as the product transitions to Clinigen, and at least 25% accretive in the first full financial year.

Proleukin will become Clinigen’s largest product in its Commercial Medicines division and it further diversifies the Commercial Medicines owned portfolio of niche hospital and critical care products.

Shaun Chilton, Group Chief Executive Officer, Clinigen, said:

“The completion of this earnings enhancing acquisition sees Proleukin immediately become the most valuable product in our Commercial Medicines portfolio, with significant potential for revitalisation.

“Proleukin also presents opportunities to the wider Group as a whole, as it provides a platform to expand our existing footprint in the US, the biggest global pharmaceutical market, and will enable us to exploit other opportunities across the business.”

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. In October 2018, the Group acquired CSM, a specialist provider of packaging, labelling, warehousing and distribution services, with sites in the US and Europe, and iQone, a specialist pharmaceutical company in Switzerland.

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Issued on for and on behalf of Clinigen by Instinctif Partners.
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