Clinigen: Strong H1 Performance With Adjusted EPS Up 31%

BURTON UPON TRENT, United Kingdom--(BUSINESS WIRE)--Clinigen Group plc (AIM: CLIN, ‘Clinigen’ or ‘the Group’), the global pharmaceuticals and services company, today publishes its half year results for the six months ended 31 December 2016.

“Our focus now is to capitalise on our international market leading positions and the geographical footprint we have built. We will also look for selective bolt-on acquisitions to enhance our product portfolio, geographical footprint and / or service capabilities.”

FINANCIAL SUMMARY

Six months ended 31 December		2016		2015		Growth
		£m		£m
Reported gross profit		58.0		40.3		44%
Adjusted gross profit		59.1		44.1		34%
Adjusted EBITDA		30.0		22.4		34%
Adjusted earnings per share		19.0p		14.5p		31%
Reported earnings per share		2.3p		1.4p		64%
Dividend per share		1.6p		1.3p		23%
Net debt		(70.9)		(81.5)

Note: adjusted EBITDA and adjusted EPS metrics are now shown after share based payments of £1.1m (2015: £1.1m). Prior year has been restated accordingly.

HIGHLIGHTS

• Adjusted gross profit* up 34% driven by organic growth across all divisions, a full six months contribution from Link Healthcare and currency benefits
• Adjusted EPS* up 31% to 19.0p (2015: 14.5p)
• Interim dividend increased 23% to 1.6p (2015: 1.3p)
• Excellent performances by Link Healthcare and Clinical Trial Services
• Launch of Japanese business, enhancing licensed and unlicensed presence in Asia
• Global Access added further exclusive supply agreements
• First contracts converted from Managed Access to Global Access

Shaun Chilton, Group Chief Executive Officer of Clinigen, said:

“We have delivered another strong half of progress, achieving more than 30% growth across all our key financial measures.

“Link Healthcare has achieved an outstanding performance, demonstrating the value of the acquisition. Clinical Trial Services delivered another excellent performance whilst Managed Access and Specialty Pharma continued to see strong growth. It is particularly pleasing that all the divisions contributed well to the growth.

“Our focus now is to capitalise on our international market leading positions and the geographical footprint we have built. We will also look for selective bolt-on acquisitions to enhance our product portfolio, geographical footprint and / or service capabilities.

“We have started the second half positively and are well positioned to complete another year of strong growth.”

*Adjusted results exclude amortisation, non-underlying costs and include the 50% share of the unaudited results from the Joint Venture in South Africa. Adjusted results are now shown after share based payments and the prior year has been restated accordingly.

For the full release, please visit www.clinigengroup.com.

An audio replay of the analyst meeting will be made available shortly afterwards via the Group’s website: www.clinigengroup.com.

Notes to Editors

About Clinigen Group

Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and services company with a unique combination of businesses focused on providing access to medicines. Its mission is to deliver the right medicine to the right patient at the right time and is focused in three areas of global medicine supply; clinical trial, unlicensed and licensed medicines.

Clinigen Clinical Trial Services is the global market leader in the management and supply of commercial medicines for clinical trials.

The Group is also the trusted global leader in ethically sourcing and supplying unlicensed medicines to hospital pharmacists and physicians for patients with a high unmet need, through three of its divisions: Idis Managed Access runs early access programmes for innovative new medicines. Idis Global Access and Link Healthcare work directly with healthcare professionals to enable compliant access to unlicensed medicines on a global basis and niche essential licensed and generic medicines across Australasia, Africa and Asia (AAA region).

Clinigen Specialty Pharmaceuticals acquires global rights, revitalises and markets its own portfolio of niche hospital medicines.

For more information, please visit www.clinigengroup.com

Cautionary statement

This announcement contains certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Clinigen Group plc. These statements are based on current expectations and involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. There are a number of factors which could cause actual results or developments to differ materially from those expressed or implied by these forward-looking statements. Any of the assumptions underlying these forward-looking statements could prove inaccurate or incorrect and therefore any results contemplated in the forward-looking statements may not actually be achieved. Recipients are cautioned not to place undue reliance on any forward-looking statements contained herein. Except as required by law, Clinigen undertakes no obligation to update or revise (publicly or otherwise) any forward-looking statement, whether as a result of new information, future events or other circumstances.

The information contained in this statement has not been audited and may be subject to further review.