Clinigen reiterates guidance after 'solid' first half

Pharmaceutical products and services company Clinigen reiterated its guidance for EBITDA growth in the 2022 financial year of between 5% and 10% in a trading update on Wednesday.

The AIM-traded firm said that as usual, it expected to see a second-half weighting to the full-year numbers.

It said its leverage on 31 December was expected to be 2.5x, “meaningfully below” the group's temporary banking covenant of 3.5x.

“During the first half of the year we have seen a solid performance across both the services and products divisions,” said group chief executive officer Shaun Chilton.

“We remain mindful of the continued prevalence of the Covid-19 Omicron variant, which has the potential to impact our principal markets.

“However, we continue to perform well on those elements within our control and remain focussed on building the lifecycle platform to service the needs of pharma companies and healthcare professionals around the globe.”

At 1115 GMT, shares in Clinigen Group were down 0.54% at 917p.