A BURTON-based pharmaceutical company has announced surging sales and pre-tax profit figures.
The Clinigen Group, based in the Centrum 100 business park, saw sales increase by 86 per cent during the second half of 2012 to £61 million.
Profits before tax stood at £10.5 million — up 48 per cent — during the same six-month period.
Chief executive Peter George said: “We are very happy with these results.”
Company secretary and chief financial officer Robin Sibson said: “This puts the business in a very good position to fund future acquisitions.”
The Clinigen Group formed in 2010 and now has offices in Burton, the USA and Japan.
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.
Mr George said: “We are looking to double the size of our headquarters. We have plans to merge two buildings together with a big reception area in between.
“We have outgrown our current building and we need to grow into the one next door.
“This should let us double our head count over the next few years. We are not putting any set time on it, but this will give us the ability to accommodate 180 people at the office.”
Clinigen was floated on the AIM stock exchange, the London Stock Exchange’s international market for smaller growing companies, last September — raising £43.1 million for the shareholders and £6.8 million for the company’s own accounts.
Mr George said: “Most companies would struggle to maintain momentum (after an AIM flotation), but the fact we have continued growing shows that our management team is very good. They have remained focused on the business while we (Mr George and Mr Sibson) have focused on the flotation.”
Mr George said he was also pleased all three divisions of the Clinigen Group had recorded growth during the second half of 2012.
Asked what the future held for Clinigen, Mr George said: “We want to strengthen our associations in South America and oversee further acquisitions of products.”
Clinigen’s CTS division supplies services for clinical trials to test unlicensed medicines, the SP division sells medicines for use in fields such as pain management, cancer treatment and critical care, while the GAP division manages programmes to deliver medicines and products across the world.