Clinical trials growth boosts Clinigen

PHARMACEUTICAL company Clinigen Group expects to see “significant organic” growth in revenue and gross profits.

In a pre-close trading update for the year ended June 30, the Burton-on-Trent firm says it continued to perform strongly across its three operational businesses – Clinical Trials Supply (CTS), Global Access Programs (GAP) and Specialty Pharmaceuticals (SP) – in the second half of the year.

CTS continues to be the main revenue generator with significant growth year on year. But the most significant percentage growth was in the GAP business, where full year sales will be more than six times higher on a like-for-like basis.

The SP business continues to show organic growth from sales of Foscavir.  Clinigen expanded the SP  portfolio, through acquisition, from one to three products and says it expects the benefits of these acquisitions to be felt next year and beyond.

The $33m acquisition of Cardioxane (dexrazoxane) from Novartis in March did, however, make a small contribution to profits in the final quarter of this year.

Clinigen’s chief executive officer Peter George said: “Since we listed last September, the group has been transformed by a combination of continued global expansion, strong organic growth and the acquisition of two new products for the Specialty Pharmaceuticals portfolio. 

“We have re-organised the senior management and continue to invest in the infrastructure to scale-up for our next stage of growth.”