Clinigen Group PLC (LON:CLIN) expects to report a sharp rise in revenue and profit when it publishes its half-year results next month.
The AIM company, which is the market leader in the supply of drugs for clinical trials and the distribution of unlicensed pharmaceuticals, enjoyed a busy six months.
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Back in July, it struck deals with Horizon Pharma and Novartis to acquire the rights to two new drugs: Imukin and Proleukin.
Later on in October, it completed the acquisitions of CSM for an initial £115mln (US$150mln) as well as iQone for £6.7mln in a mixture of cash and shares.
As a result of the new additions, Clinigen, which has a market capitalisation of £1bn, said revenues jumped by 25% on a constant currency basis in the six months ended 31 December.
Gross profit increased by 27% on a constant currency basis compared to last year. Both figures were in line with the company’s expectations.
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“The Unlicensed Medicines portfolio performed well as anticipated, starting a number of new programs, and we have diversified our Commercial Medicines portfolio with the purchase of two specialty medicines,” said chief executive Shaun Chilton.
“We are already seeing the operational benefit of combining Clinical Trial Services with the clinical trial capabilities of the recently acquired CSM, which when combined with iQone, also acquired in October 2018, enhance our European and US infrastructure for the benefit of all our businesses.”
Chilton added: “We are well positioned to deliver another good year of progress.”
The full set of interim results will be published on 27 February.