15th Jan 2015 09:53
LONDON (Alliance News) - Pharmaceutical company Clinigen Group PLC on Thursday said it performed in line in the first half of its financial year on improvements at its Clinical Trial Supply and Clinigen Specialty Pharmaceuticals businesses.
Revenue for the six months to the end of December rose 17% year-on-year to GBP72.6 million, up 21% at constant currencies. Gross profit increased 11%, with overall margins at 30%, it added.
The revenue growth in the half was driven by organic and new customer growth in the CTS unit and by an addition contribution from new product acquisitions at Clinigen SP. In addition, within the SP business, Foscavir in-market sales rose 5%.
For its Clinigen Global Access Programs business, the number of units shipped continued to increase in the first half. Revenue was held back in the unit by the closure of the French Enzalutamide programme, but this did result in improved margins for the unit.
"I am really proud of the team's first-half performance; all three operating businesses have contributed to strong trading. I am particularly pleased with the CTS performance and the early contributions from new product acquisitions," said Clinigen Chief Executive Officer Peter George.
"This strong half-year performance is in line with the board's expectations and puts us in a good position to meet our full-year targets," George added.
Clinigen shares were down 1.5% to 499.66 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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