Pharmaceutical

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.

MARKETS

Markets
TSX18861.36-217.28
TSXV617.26-9.08
DOW30775.43-253.88
S&P 5003785.38-33.45
NASD11028.74-149.16
ASX6700.20-63.40

COMMODITIES

Commodities
Gold1805.28-1.59
Silver20.22-0.03
Copper3.69-0.02
Palladium1933.50+11.50
Platinum898.50+1.50
Oil106.36+0.60
Heating Oil3.87+0.04
Natural Gas5.72+0.30

DOWNLOAD FREE REPORTS

×