Clinigen Group plc has today published its full year results for the year ended 30 June 2018.
Clinigen Group plc (AIM: CLIN, ‘Clinigen’ or ‘the Group’), the global pharmaceuticals and services group, has today published its full year results for the year ended 30 June 2018.
FINANCIAL SUMMARY
HIGHLIGHTS
- Adjusted gross profit up 14% driven by an excellent performance by Commercial Medicines and eight months’ contribution from Quantum Pharma plc (‘Quantum’)
- Good growth and contract wins in Africa and Asia Pacific region
- Strong performance from Quantum with integration progressing to plan; £1.1m in cost synergies already realised
- Adjusted EPS up 10% to 45.4p (2017: 41.3p)
- Good cash flow performance with cash generated from operations up 17% to £64.1m (2017: £54.7m)
- Full year dividend increased 12% to 5.6p (2017: 5.0p)
- Profit before income tax of £35.9m (2017: £14.1m)
POST YEAR END
- Acquired global rights outside the US to Proleukin® from Novartis
- Acquired global rights to Imukin® outside the US, Canada and Japan from Horizon Pharma
- Acquisitions of CSM and iQone as announced separately this morning
Shaun Chilton, Group Chief Executive Officer, said:
“We are now established as a leading international expert and partner in the increasingly complex global supply and distribution of both unlicensed and licensed medicines.
“Our continued ambition is to be the global trusted leader in access to medicines. With that in mind, we continue to execute our buy and build strategy with the purchase of two niche, hospital medicines, as well as today’s announcements on the acquisitions of CSM and iQone, which create a specialist European infrastructure to benefit all of Clinigen’s businesses.
“The strength and diversity of our portfolio of complementary business, with markedly strong performances by the Commercial Medicines business and the Africa and Asia Pacific regions, led to a strong financial performance this year, with double-digit increases in both adjusted EBITDA and EPS.
“The Group is very well positioned to deliver another year of good progress. We continue to deliver consistently on our strategic objectives and focus on extending the value proposition of the business globally. The Board is confident that the recent acquisitions further strengthen Clinigen’s capability to capitalise on the substantial long-term growth opportunity in our markets.”
For the full announcement, visit www.clinigengroup.com
- ENDS -
The planned analyst results meeting is now at 8.30am, not 9.30am. A presentation will be available shortly to analysts and investors on the Clinigen website at: www.clinigengroup.com. A recording of the meeting will be available online later in the day.
Analyst or investors who wish to dial in please contact Instinctif Partners on +44 (0) 20 7457 2020 or emailclinigen@instinctif.com.
Issued for and on behalf of Clinigen Group plc by Instinctif Partners.
For more information please contact:
Clinigen Group plc
Shaun Chilton, Group Chief Executive Officer
Martin Abell, Group Chief Financial Officer
Matt Parrish, Head of Investor Relations
Numis Securities Limited
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black / Tom Ballard (Corporate Broking)
RBC Capital Markets - Joint Broker
Marcus Jackson / Elliot Thomas
Instinctif Partners
Adrian Duffield / Melanie Toyne-Sewell / Alex Shaw
Tel: +44 (0) 1283 495010
Tel: +44 (0) 20 7260 1000
Tel: +44 (0) 20 7653 4000
Tel: +44 (0) 20 7457 2020
Email: clinigen@instinctif.com
Notes To Editors
The Unlicensed Medicines operation encompasses Managed Access and Global Access division, and the unlicensed businesses within Link and Quantum. The Commercial Medicines business encompasses Clinigen’s own products and the commercial businesses of Link and Quantum.
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and services company with a unique combination of businesses focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time through three areas of global medicine supply; clinical trial, unlicensed and licensed medicines.
Commercial Medicines
Clinigen acquires global rights to niche hospital only and critical care products, revitalising these assets around the world and returning them back to sustained growth. It is also the commercial partner for licensed and branded generic medicines in regions such as the Africa and Asia Pacific region.
The Group also has an ‘unlicensed to licensed’ strategy, where it looks to take unlicensed medicines with commercial potential and licences them, helping to address unmet medical need and allowing the Group to capitalise on its market-leading positions.
Unlicensed Medicines
Clinigen is the global leader in ethically sourcing and supplying unlicensed medicines to hospital pharmacists and physicians for patients with a high unmet medical need. The Group manages early access programs for innovative new medicines and provides ‘on-demand’ access globally to medicines which remain unlicensed at the point of care.
Clinical Trial Services
Clinigen is the global market leader in the specialist supply and management of quality-assured comparator medicines and services to clinical trials and Investigator Initiated Trials.
For more information on Clinigen, 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.
