Clinigen profits rise by a third

Global pharmaceutical and services company Clinigen Group provided a trading update for the six months to 31 December on Wednesday, with gross profit up 34%.

The AIM-traded firm said this was driven by a combination of “good” organic growth across all divisions, a full six months contribution from Link Healthcare and currency benefits

It reported excellent growth by Link Healthcare and Clinical Trial Services, with strong growth in Managed Access and Specialty Pharma.

“We have delivered good growth across all divisions following the successful integration of the Idis and Link Healthcare acquisitions,” said group CEO Shaun Chilton.

“Link Healthcare has achieved an outstanding performance, demonstrating the value of its acquisition by the group.”

Among the other divisions, Clinical Trials Services has again delivered a standout performance, [and] managed Access and Specialty Pharma also delivered strong growth.”

Chilton said the company was trading in line with expectations, and remained well-positioned to deliver good performances across all divisions in H2.

“Our priorities remain to drive organic growth by capitalising on our international market leading positions and expanded geographical footprint.

“We will also continue to look for selective acquisitions that meet our return criteria in order to enhance our product portfolio and / or service capabilities.”