Organic growth drives progress at Clinigen
Pharmaceutical and services company Clinigen Group expects gross profit for its full year to be up 22%, it said on Tuesday, driven by a combination of organic growth across all of its operations, as well as a whole year’s contribution from Link Healthcare and currency benefits.
Clinigen Group
925.00p
16:39 04/04/22
Food & Drug Retailers
4,391.38
16:34 19/11/24
FTSE AIM 100
3,503.44
16:59 19/11/24
FTSE AIM 50
3,920.35
16:59 19/11/24
FTSE AIM All-Share
724.23
16:59 19/11/24
The AIM-traded firm said it saw strong growth from its clinical trial services, unlicensed medicines and commercial medicines divisions in the 12 months to 30 June, as well as “outstanding performance” from the Africa and Asia Pacific regions, in its trading update.
It said its dexrazoxane portfolio revitalisation had been “significantly enhanced” by a positive CHMP opinion on Cardioxane, and the US approval for Totect.
“This has been another excellent year with all three operations, CTS, unlicensed medicines and commercial medicines, performing strongly,” said group chief executive Shaun Chilton.
“We have made significant progress in our strategy to build scale and capability in high growth geographies in Africa and Asia Pacific.
“Now that Link's earn-out period has been completed, we will be able to further integrate and develop our complementary portfolio of businesses worldwide.”
Clinigen’s new, “simplified” operating and reporting structure for its full year results comprised the clinical trial services, unlicensed medicines and commercial medicines, the board confirmed.
The board said it expected to publish its final results for the year to 30 June on 28 September.
“Our priorities in the current financial year remain unchanged,” Shaun Chilton added.
“We will drive organic growth across all parts of the group and search for selective acquisitions to complement our existing offering and capabilities.”