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    Clinigen Group Reports Year End Financial Results

    Chelsea Pratt
    Sep. 28, 2016 01:14AM PST
    Life Science Investing News

    Clinigen Group, the globalpharmaceuticals and services group, has today published its full year results for the year ended 30 June 2016.

    Clinigen Group plc (AIM:CLIN, ‘Clinigen’ or ‘the Group’), the globalpharmaceuticals and services group, has today published its full year results for the year ended 30 June 2016.

    FINANCIAL SUMMARY

    Growth

    Year ended 30 June20162015ActualPro forma**
    £m£m
    Reported revenue339.9184.484%
    Reported gross profit96.153.779%
    Adjusted gross profit102.153.790%7%
    Adjusted EBITDA56.032.373%10%
    Cash generated by operations49.415.8213%
    Reported earnings per share11.9p6.5p83%
    Adjusted earnings per share35.0p28.0p25%
    Dividend per share4.0p3.4p18%

    HIGHLIGHTS

    • Adjusted gross profit* up 90%, driven by acquisitions and organic
      growth
    • Adjusted EPS* up 25% to 35.0p (2015: 28.0p)
    • Net debt decreased £8.1m to £68.1m, after £28.5m spent on acquisitions
    • Full year dividend increased 18% to 4.0p (2015: 3.4p)
    • Strongest performances by Specialty Pharmaceuticals, driven by
      revitalisation of newer products, and CTS
    • Integration of Idis and Link acquisitions substantially complete
    • Acquisition of Totect and Foscavir bag line extension enhances
      Specialty Pharmaceuticals portfolio
    • Shaun Chilton to become CEO on 11 November 2016, when Peter George
      steps down
      (see separate announcement)

    Peter George, Chief Executive Officer, said:
    “The acquisition and integration of Idis and Link Healthcare have
    transformed the Group over the last 18 months.

    “We have achieved our ambition to become the global market leader in
    the management and supply of both unlicensed and clinical trial
    medicines, and expanded our global footprint.

    “Alongside the significant strategic progress, we have also delivered
    a strong financial performance with good levels of organic growth
    combining with the acquisitions to increase adjusted EPS* by 25%.

    “The newer products in our Specialty Pharmaceuticals portfolio are
    making good progress, demonstrating the effectiveness of our
    revitalisation model and we saw another excellent year in the Clinical
    Trial Services division.”

    Shaun Chilton, Chief Executive Officer-designate, added:
    “We have started the new financial year well and are trading in line
    with our expectations.

    “Our focus now is to capitalise on our international market leading
    positions and expanded geographical footprint, by driving organic growth
    and continuing to add to and progress the revitalisation of our
    products.”

    -Ends-

    *The adjusted results exclude share based payment costs,
    amortisation, non-underlying costs and include the 50% share of
    the unaudited results from the Joint Venture in South Africa. All
    figures referenced with * within this document are adjusted.

    **Year on year comparisons, referred to as ‘pro forma’ are
    calculated from the aggregated unaudited results taken from i) 12
    monthly management information for Clinigen and Idis, and ii) for
    Link Healthcare, the eight months ended 30 June 2016 and for the
    eight months ended 30 June 2015. The pro forma calculation has
    also removed the effect of the termination of the Global Access
    low margin contract in November 2015.

    An analyst briefing will be held at 9:00am on Wednesday, 28 September
    2016 at the offices of Instinctif Partners, 65 Gresham Street, London
    EC2V 7NQ. An audio replay file will be made available shortly afterwards
    via the Group’s website: www.clinigengroup.com.
    For the full release, please visit the Group website at www.clinigengroup.com
    About Clinigen Group
    Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and services
    company with a unique combination of businesses focused on providing
    access to medicines. Its mission is to deliver the right medicine to the
    right patient at the right time and is focused in three areas of global
    medicine supply; clinical trial, unlicensed and licensed medicines.
    Clinigen Clinical Trial Services is the global market leader in
    the management and supply of commercial medicines for clinical trials.
    The Group is also the trusted global leader in ethically sourcing and
    supplying unlicensed medicines to hospital pharmacists and physicians
    for patients with a high unmet need, through three of its divisions: Idis
    Managed Access
    runs early access programs for innovative new
    medicines. Idis Global Access and Link Healthcare work
    directly with healthcare professionals to enable compliant access to
    unlicensed medicines on a global basis and niche essential licensed and
    generic medicines across Australasia, Africa and Asia (AAA region).
    Clinigen Specialty Pharmaceuticals acquires global rights,
    revitalises and markets its own portfolio of niche hospital medicines.
    For more information, please visit www.clinigengroup.com
    Forward-looking statement
    This announcement contains certain projections and other
    forward-looking statements with respect to the financial condition,
    results of operations, businesses and prospects of Clinigen Group plc.
    These statements are based on current expectations and involve risk and
    uncertainty because they relate to events and depend upon circumstances
    that may or may not occur in the future. There are a number of factors
    which could cause actual results or developments to differ materially
    from those expressed or implied by these forward-looking statements. Any
    of the assumptions underlying these forward-looking statements could
    prove inaccurate or incorrect and therefore any results contemplated in
    the forward-looking statements may not actually be achieved. Recipients
    are cautioned not to place undue reliance on any forward-looking
    statements contained herein. Except as required by law, Clinigen
    undertakes no obligation to update or revise (publicly or otherwise) any
    forward-looking statement, whether as a result of new information,
    future events or other circumstances.

    peter georgeclinical trialsfinancial resultsjoint venture
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