Clinigen monopolises global rights for skin cancer treatment

Clinigen now owns the global rights to Proleukin after having acquired the US rights to the treatment on Tuesday following US anti-trust clearance.

The global pharmaceutical services company said the treatment is indicated for metastatic melanoma and metastatic renal cell carcinoma in the States and it is currently being used in around 80 active clinical studies within the US, across multiple disease areas.

The AIM traded company had acquired the 'Rest of the World' rights to Proleukin in July 2018, with the treatment now the largest product in Clinigen's Commercial Medicines division.

Shaun Chilton, group chief executive of 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."

Clinigen said 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 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," said Chilton.

Clinigen's shares were up 0.60% at 919.00p at 1058 BST.