26th Nov 2020 07:00
26 November 2020
AGM and trading update
Clinigen Group plc (AIM: CLIN, 'Clinigen' or the 'Group'), the global pharmaceutical and services company, is holding its Annual General Meeting ("AGM") as a closed meeting today at 10am.
At the meeting, Peter Allen, non-executive Chairman of Clinigen, will provide an update on trading for the Group for the period to 25 November 2020, as follows:
"Despite the ongoing impact of COVID-19, trading in 2021 has been in-line with market expectations.
"Clinical Services and Commercial Medicines have continued to recover in-line with the trends we were seeing post year end, with the effects of COVID-19 more evident within the Unlicensed Medicines division as hospital demand continues to be subdued. In spite of this, the Group has continued to deliver good progress from a new business perspective with the number of new Managed Access Programs signed continuing to increase at pace. We have also seen a continuing improvement in demand for key asset Proleukin albeit still below pre-COVID-19 levels. We have yet to see the launch of the Foscavir generic in the EU, but expect this new competition to appear at some point in the current financial year.
"The Board reiterates its previously issued guidance for 2021, with organic net revenue growth expected to be towards the lower end of our 5%-10% medium term guidance range. As previously stated, we expect growth to be more weighted to H2 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."
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For further information, please contact:
Clinigen Group plc | Tel: +44 (0) 1283 495 010 |
Shaun Chilton, Group Chief Executive Officer Nick Keher, Group Chief Financial Officer |
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J.P.Morgan Cazenove - Nominated Adviser & Joint Broker | Tel: +44 (0)20 7742 4000 |
James Mitford / Hemant Kapoor |
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RBC Capital Markets - Joint Broker | Tel: +44 (0)20 7653 4000 |
Marcus Jackson / Elliot Thomas |
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Instinctif Partners | Tel: +44 (0)20 7457 2020 |
Melanie Toyne Sewell / Phillip Marriage | Email: [email protected] |
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and services company with a unique combination of businesses focused on providing ethical access to medicines. Its mission is to deliver the right medicine to the right patient at the right time through three areas of global medicine supply; clinical trial, unlicensed and licensed medicines. The Group has sites in North America, Europe, Africa and the Asia Pacific region.
Clinigen now has over 1,150 employees across five continents in 14 countries, with supply and distribution hubs and operational centres of excellence in key long term growth regions. The Group works with 21 of the top 25 pharmaceutical companies; interacting with over 18,000 registered users across 115 countries, shipping approximately 6.5 million units in the year.
For more information on Clinigen, please visit www.clinigengroup.com.
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