Clinigen increases its 2016 interim dividend by 18%

DividendMax Ltd.

Clinigen increases its 2016 interim dividend by 18%


Adjusted gross profit doubled, reflecting change in scale following acquisitions

Adjusted EPS up 21% to 15.1p (2014: 12.5p)

Interim dividend up 18% to 1.3p (2014: 1.1p)

£22.1m cash generated from operations, up 96%

Revitalisation of newer products has driven strong Specialty Pharmaceuticals performance

All commercial and most of operational integration complete for Idis

Link Healthcare acquisition builds global footprint, adding capability in Australia, Africa and Asia

Further extension of Dexrazoxane product line with the acquisition of Totect from Biocodex, opening up the US market for Clinigen (see separate announcement for further details)

Positioned for good growth in H2, in line with Board expectations

Peter George, Chief Executive Officer of Clinigen, said:

"We have made significant progress towards meeting our strategic objectives as a result of the acquisitions of Idis in April and Link Healthcare in October last year, and our alliance with US Specialty Pharmaceuticals company, Cumberland Pharmaceuticals.  

"We are firmly established as the global market leader in the management and supply of unlicensed and clinical trial medicines. We now have the platform to realise considerable organic growth opportunities across a number of markets.

"We have also delivered good organic growth with the revitalisation of the newer products in our Specialty Pharmaceuticals business being a key highlight. The acquisition of Totect from Biocodex announced today further extends our Dexrazoxane product line, opening up the US market to Clinigen.

"Our strategic priorities are focused on completing the integration of both Idis and Link, driving organic growth across all our divisions, and developing the international potential of our Global Access business to take advantage of the growing demand for unlicensed medicines around the world. We will also continue the search for niche hospital only products to add to and strengthen our Specialty Pharmaceuticals division."

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