Profits boost for pharma firm after year of ‘real resilience’
Revenues and profits at Burton pharma firm Clinigen are expected to show significant improvement for the year-ending June 30.
Turnover will be up by at least 17%, says the firm, while gross profit is expected to rise by at least a fifth.
Shaun Chilton, group chief executive officer of Clinigen, said: “We have delivered a robust performance, showing strong organic growth despite the difficult trading conditions in the last few months of the financial year and in line with our previous guidance.
“Our international platform and balanced portfolio of complementary services and products have shown real resilience. Cash generation also improved meaningfully in the H2, reverting back to historical levels.
“We continue to see organic growth in line with our medium term guidance at this early stage of the new financial year, despite COVID-19 and expected competitive pressure to Foscavir. As we look beyond FY21, we see growth significantly accelerating as we onboard new asset Erwinase and we continue to gain share in the end-markets we serve.”