26th Nov 2020 10:45
(Alliance News) - Clinigen Group PLC on Thursday said its trading so far in financial 2021 has been in line with market expectations as it expressed optimism in its long-term prospects.
The pharmaceuticals and services group - whose annual general meeting is scheduled for today - said its Clinical Services and Commercial Medicines businesses have continued to recover but warned negative effects of the Covid-19 pandemic are more evident within the Unlicensed Medicines division as hospital demand continues to be subdued. However, it assured it continues to make progress in securing new business, with the number of new managed access programs signed continuing to increase
Clinigen added it has also seen a continuing improvement in demand for metastatic renal cell carcinoma or metastatic melanoma treatment Proleukin, albeit still below pre-Covid levels.
Looking ahead, the company reiterated its guidance for the financial year ending June 20, forecasting organic net revenue growth to be towards the lower end of its 5%-10% medium term guidance range.
"As previously stated, we expect growth to be more weighted to the second half than in previous years due to the impact of Covid-19 and the timing of shipments for Proleukin to key customers. Clinigen remains a resilient, diversified international business and the Board remains optimistic for the Group's outlook and long term prospects," said Chair Peter Allen.
By Ife Taiwo; [email protected]
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