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Drug giant Clinigen announces good financial results

By Burton Mail  |  Posted: February 26, 2014

  • 26/04/13 Aerial photos Aerial photos....Centrum 100 / IHG HQ / Holiday Inn HQ / Dains / Clinigen..

  • Peter George - Chief Executive of Clinigen....

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A BURTON-BASED pharmaceutical company has revealed that it has seen its revenue and profits soar.

The Clinigen Group, based on the Centrum 100 business park, announced that it had posted an underlying half year pre-tax profit of £10.9 million, which is up by 12 per cent.

The firm has also seen revenue rise to £61.8 million.

Clinigen’s chief executive Peter George said: “Our focus on value creation has resulted in another strong financial performance.

“In summary, a good start to 2014, with full-year expectations on track.”

The Clinigen Group formed in 2010 and now has offices in Burton, the USA and as far afield as Japan.

Clinigen was floated on the AIM stock exchange, the London Stock Exchange’s international market for smaller growing companies, last September.

The firm is made up of three parts – Clinigen’s CTS division, which supplies services for clinical trials to test unlicensed medicines; the SP division, which sells medicines for use in fields such as pain management, cancer treatment and critical care; and the GAP division, which manages programmes to deliver medicines and products across the world.

Mr George added: “We are particularly pleased with the gross profit improvement in the CTS business and that we continue to add new customers.

“Our GAP division continues to go from strength to strength, and our growing reputation is attracting not only important new clients such as Eisai but also returning customers like BTG.

“In SP, the integration of our new products Cardioxane and Vibativ is going well with some of the commercial activities ahead of plan, and Foscavir sales, as expected, are levelling out.

“Acquisitions for SP are a priority and our activity in this area is high; we are confident we will add further to our portfolio in 2014.”

In January, the offices of the pharmaceutical company underwent a major refurbishment last year, which increased the floor space by around 50 per cent.

The company is planning to expand its presence in Burton and could create up to 90 new jobs in the town during the next few years if business continues to increase.

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