20th Jul 2016 07:02
LONDON (Alliance News) - Pharmaceutical services company Clinigen Group PLC on Wednesday said its revenue and gross profit surged in the year to the end of June thanks to acquisition contributions and good organic growth.
Clinigen said revenue for the year to the end of June increased 87%, while gross profit rose 90% against the comparable period a year prior. This was boosted by solid organic growth in the year and by the contributions made by acquisitions including ethical unlicensed medicine supplier Idis and Australian pharmaceutical and medical technology business Link Healthcare.
The group saw a significant step-up in its performance in the second half, driven by strong trading in its Clinical Trial Services, Specialty Pharmaceuticals and Managed Access divisions.
"The integration of Idis and Link Healthcare has transformed the group into the global market leader in the management and supply of both unlicensed and clinical trial medicines," said Peter George, Clinigen's chief executive.
"We are entering the new financial year in an excellent position, having delivered on our key strategic objectives. Our priorities now are to capitalise on our market leader positions, drive organic growth and continue to progress the revitalisation of our products," George added.
By Sam Unsted; [email protected]; @SamUAtAlliance
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