‘Transformed’ pharma firm posts big leap in profits and revenue

Burton pharma firm Clinigen has seen its revenues and profits soar for the six months to 31 December 2018.

Turnover at the firm was up by 24% to £208.9m, while adjusted profits were up 25% to £80m.

Shaun Chilton, group chief executive, said: “The business has transformed over the last 12 months through a combination of substantial corporate and product acquisitions, investment in infrastructure and underlying growth. This has resulted in an improved balance across our complementary businesses – reflecting our portfolio strategy.

“Operationally, we saw good growth in Africa and Asia Pacific and the Unlicensed Medicines business, with adjusted EPS up 9% and operating cash flow up 13%. Notably, CSM, which we acquired in October 2018, saw approximately 20% year on year growth in EBITDA.

“We have started the second half of the year well and in-line with the Board’s expectations. We remain well placed to deliver on our vision to be the trusted global leader in the global supply and distribution of critically important hospital medicines.”