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Burton drug firm Clinigen in profit rise boost

By Burton Mail  |  Posted: July 25, 2014

By Rob Smyth

Peter George - Chief executive of Clinigen

Peter George - Chief executive of Clinigen.

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A BURTON-BASED pharmaceutical company has revealed it has seen major growth across the entire business during the past 12 months.

The Clinigen Group, based on the Centrum 100 business park, revealed that like-for-like revenues were up seven per cent compared to the last financial year.

Revenues were reported at around £126 million at the company.

The firm now hopes that its successful set of financial figures will allow it to put in plans for 'significant' growth,

Peter George, chief executive, said: "This has been another great year for Clinigen.

"All three operating businesses have contributed to a strong trading performance and we have seen good organic growth.

"We're particularly pleased with the increased gross margins and, yet again, the excellent growth of earnings before interest, taxes, depreciation and amortisation.

"We are also seeing good acquisition and complementary product opportunities for specialty pharmaceuticals, which supports our strategy to focus on niche, hospital-only, specialty pharmaceutical products.

"This strategy plays well in the current environment where big pharmaceutical companies are looking to divest more mature products.

"At this early stage we are confident of another strong year ahead and we remain on track to be the leading provider in our areas.

"The group continues to have strong cashflow.

"The closing net cash position combined with the bank facility provides funding for further product acquisitions.

"Overall, Clinigen continues to deliver on its objective of building its specialty pharmaceutical portfolio."

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