Clinigen buys Japanese medicine supplier

AIM-listed pharmaceutical and services company Clinigen has acquired International Medical Management Corporation (IMMC), Japan's largest supplier of unlicensed medicines, for an undisclosed sum.

Clinigen said the deal will add to its existing footprint in the country following the launch of its Japanese business in October 2016. It added that the acquisition is part of its strategy “to become the 'go to' global leader in ethical access to unlicensed medicines” and will allow the group to better address unmet patient needs.

Established in 2006, IMMC operates throughout Japan in sectors including niche vaccine, oncology and IVF. It currently has relationships with more than 850 hospitals and clinics, which will now be able to benefit from the broader access to medicines available as part of Clinigen.

IMMC was acquired for an upfront cash payment followed by certain potential milestone-based instalments over 12 months.

Group chief executive officer Shaun Chilton said: "This acquisition represents another strategic development, extending our geographical footprint and another step to becoming the global leader in ethical access to unlicensed medicines. The enlarged Japanese operation adds further capability in this high growth market which is crucial to our customers and a key part of Clinigen's global offering."

At 0950 BST, the shares were down 0.1% to 1,125p.