LONDON (Alliance News) - Pharmaceutical services company Clinigen Group PLC on Tuesday said trading in the first half of its financial year was solid, with revenue and gross profit both higher but mostly boosted by the contribution from acquisitions.
Revenue and gross profit both doubled in the half to the end of December, driven by the acquisitions of Idis in April last year and of Link Healthcare in October. Organic gross profit for the half was up 4.0%, with good growth in Clinigen's specialty pharmaceuticals and managed access arms but subdued trading for its global access unit.
Clinigen said overall trading was in line with its expectations in the half, but said it was confident of a stronger second half of the year thanks to its robust pipeline and customer wins for its managed access and clinical trial services businesses.
It will publish its interim results on March 2.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
