Clinigen's 'strong year' leaves it well-positioned for further growth

In a trading statement, Clinigen said it was "well-positioned" to drive further growth across all parts of the business in the year ahead.

Separately, Clinigen announced that it had bought the global rights outside the US to metastatic renal cell carcinoma drug Proleukin from Novartis for an undisclosed sum.

Clinigen said it would seek to revitalise sales of the drug through its distribution network for both licensed and unlicensed supply.

Gross profits increased around 14% year-on-year and revenues grew ahead of profits to roughly 26% as a result of an increased level of pass-through costs in the early access part of its unlicensed medicines.

Following tight cost control and benefits obtained from the integration of its newest acquisitions, EBITDA growth was expected to increase at a higher rate than gross profit, Clinigen said.

"This year has demonstrated the strength and diversity of the group's portfolio. Our largest business operation, Commercial Medicines, has had an excellent year more than offsetting weakness in CTS," said chief executive Shaun Chilton.

"With a strong balance sheet and cash generative business model, our strategy remains to drive growth across our portfolio organically, by making acquisitions and through geographic expansion," he added.

Clinigen shares had dipped 1.72% to 977.85p at 1114 BST.