Organic growth and currency benefits boost Clinigen profits

Profits at Burton-based pharma firm Clinigen have risen by 22% despite revenues falling for the year ending 30 June.

Profits for the year stood at £122.8m, while revenue dipped by 11% to £302.3m.

The firm is putting the hike in profits down to organic growth, a full-year’s contribution from Link Healthcare and currency benefits.

Clinigen also hailed an “outstanding” year in its African and Asia Pacific markets.

Earlier this month, the firm announced the £150.3m acquisition of Quantum Pharma.

Shaun Chilton, group chief executive officer, said: “All of our business operations have performed strongly over the year resulting in a 25% increase in adjusted EPS and a 25% increase in dividend.

“We have continued to make significant progress in our strategy to build scale and capability in high growth geographies in the Africa and Asia Pacific region.

“Our strategic priorities remain unchanged – we continue to drive organic growth across all parts of the Group and search for selective acquisitions to complement our existing offering and capabilities.

“In line with this strategy, our recently announced proposed acquisition of Quantum would extend our Unlicensed Medicines capability, accelerate Clinigen’s unlicensed to licensed global strategy and enable Clinigen to internationalise Quantum’s existing portfolio of commercial products.

“The Group is well positioned to deliver another good year of progress and longer term the Board believes we are in an excellent position to capitalise on the substantial opportunity in our markets.”