Clinigen Group plc: Half Year Results for the Six Months Ended 31 December 2013

  Clinigen Group plc: Half Year Results for the Six Months Ended 31 December

 Underlying half year pre-tax profits up 12% at £10.9m, underlying EBITDA up
                                20% at £12.5m

Business Wire

BURTON-ON-TRENT, England -- February 26, 2014

Clinigen Group plc (AIM: CLIN, Clinigen or the Group), the global specialty
pharmaceuticals and pharmaceutical services business, has today published its
half year results for the six months ended 31 December 2013.

Financial highlights

  *Group revenue of £61.8m (H1FY13: £61.0m); like for like* sales up 6.5%
  *Underlying** EBITDA up 20% to £12.5m (H1FY13: £10.5m)
  *Underlying** pre-tax profit 12% higher at £10.9m (H1FY13: £9.7m)
  *Reported pre-tax profit of £9.6m (H1FY13: £3.7m)
  *Underlying earnings per share*** up 7.8% to 9.7p (H1FY13: 9.0p)
  *Reported earnings per share of 8.7p (H1FY13: 3.5p)
  *Interim dividend of 1.0p per share (H1FY13: 0.6p per share)
  *Cash and cash equivalents of £16.8m at 31 December 2013 (30 June 2013:

Business highlights

  *CTS: margins improved through better supplier terms. Post period end,
    exclusive agreement with Accord Healthcare extended to supply capecitabine
    in Europe
  *GAP: large GAP programs running as planned, with new access programs
    signed up with Eisai for Fycompa® and a third program for BTG for uridine
  *SP: integration of Cardioxane® and Vibativ® on track

* H1FY13 included circa £3m of Foscavir stock fill for the US market which has
been adjusted to give like-for-like sales

**Underlying earnings excludes share based payments and one off exceptional
costs in FY13 arising as a result of the IPO

***Underlying EPS excludes share based payments and one off exceptional costs
and is based on the weighted average number of shares in issue post IPO

Peter George, Chief Executive Officer, said:

“Our focus on value creation has resulted in another strong financial

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

“GAP 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 CY2014.

“In summary, a good start to FY14, with full year expectations on track.”


An analyst briefing will be held at 9:00am today at the Group’s London offices
at 1 King Street, London EC2V 8AU.

An audio replay file will be made available shortly afterwards via the Group’s

For the full release, please visit


About Clinigen Group

The Clinigen Group is a specialty global pharmaceutical company headquartered
in the UK, with offices in the US and Japan. The Group, dedicated to
delivering ‘the right drug, to the right patient at the right time’, has three
operating businesses; Specialty Pharmaceuticals (Clinigen SP or SP), Clinical
Trials Supply (Clinigen CTS or CTS), and Global Access Programs (Clinigen GAP
or GAP). Clinigen SP focuses on acquiring and in licensing specialist,
hospital only medicines worldwide and commercializing them within niche
markets. Clinigen CTS sources commercial medical products for use in clinical
studies only, including comparator drugs, adjuvant drugs and rescue therapies.
Clinigen GAP specializes in the consultancy, development, management and
implementation of programs providing access for patients and their clinicians
to drugs not available in their markets. For more information, please visit

Forward-looking statement

This announcement contains certain projections and other forward-looking
statements with respect to the financial condition, results of operations,
businesses and prospects of Clinigen Group plc (“Clinigen”). These statements
are based on current expectations and involve risk and uncertainty because
they relate to events and depend upon circumstances that may or may not occur
in the future. There are a number of factors which could cause actual results
or developments to differ materially from those expressed or implied by these
forward-looking statements. Any of the assumptions underlying these
forward-looking statements could prove inaccurate or incorrect and therefore
any results contemplated in the forward-looking statements may not actually be
achieved. Recipients are cautioned not to place undue reliance on any
forward-looking statements contained herein. Clinigen undertakes no obligation
to update or revise (publicly or otherwise) any forward-looking statement,
whether as a result of new information, future events or other circumstances.


Clinigen Group plc
Peter George, Group Chief Executive Officer
Robin Sibson, Group CFO and Company Secretary
Shaun Chilton, Group Chief Operating Officer
Tel: +44 (0) 1283 495 010
Numis Securities Limited
Michael Meade/Freddie Barnfield (Nominated Adviser)
James Black/Tom Ballard (Corporate Broking)
Tel: +44 (0) 20 7260 1000
Peel Hunt LLP – Joint Broker
James Steel/Jock Maxwell Macdonald
Tel: +44 (0) 20 7418 8900
Instinctif Partners
Melanie Toyne-Sewell/Stefanie Bacher
Tel: +44 (0) 20 7457 2020
Mob: 07890 022 814
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