CEO to depart after announcing 90% rise in profits

THE chief executive of Burton on Trent pharma firm Clinigen is to step down.
Peter George has told the board of Clinigen that he intends to step down as CEO on 11 November 2016. He will continue as a non executive director.
 
Shaun Chilton, who has been deputy CEO since July 2015 and before that CEO for over three years, will become CEO on that date.
 
Robin Sibson, who has served as non executive director since 2015 and before that as the Group’s chief financial officer, has told the Board that he intends to retire at the AGM in November.
Peter George said: “It has been a pleasure and privilege to create and lead Clinigen over the last six years with the IPO, strong organic growth and the two recent transformational acquisitions being the highlights. I would like to thank all of the Group’s employees around the world – we have been only able to create this substantial business thanks to their hard work and commitment.
 
“I have worked closely with Shaun over the years and I would like to thank him for his invaluable contribution. I look forward to supporting him as he takes the business to the next stage in its development.”
 
Shaun Chilton, CEO-designate said: “I am delighted to have the opportunity to lead Clinigen. We have been building the Group’s infrastructure, capabilities, IP and geographical footprint over the last four years, creating a unique business model with a top quality management team.
 
“Our focus now is to drive sustainable growth by capitalising on our market leading positions in clinical trial services and unlicensed medicines and continuing to expand our portfolio of specialty pharmaceuticals.”
Meanwhile, the firm has this morning posted revenue growth of 84% to £339.9m and profits growth of 90% to £96.1m for the year ending 30 June.
Mr George said: “The acquisition and integration of Idis and Link Healthcare have transformed the Group over the last 18 months.
 
“We have achieved our ambition to become the global market leader in the management and supply of both unlicensed and clinical trial medicines, and expanded our global footprint.
 
“Alongside the significant strategic progress, we have also delivered a strong financial performance with good levels of organic growth combining with the acquisitions to increase adjusted EPS by 25%.
 
“The newer products in our Specialty Pharmaceuticals portfolio are making good progress, demonstrating the effectiveness of our revitalisation model and we saw another excellent year in the Clinical Trial Services division.”

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