New Clinigen (LON:CLIN) boss excited about driving organic growth further: ProactiveInvestors Stocktube

ProactiveInvestors Stocktube

Published on Sep 29, 2016

Soon to be chief executive of Clinigen Group PLC (LON:CLIN) Shaun Chilton said he was "excited" about his new role, which begins on November 11.

Peter George, who had held the role, will then become non-executive director at the pharma services group.
The main focus will be to continue to drive organic growth across all divisions for the rest of the year.
On the acquisition front, the emphasis will be on two fronts to add value, he said.

One is to continue to add pharmaceutical assets to its specialty pharma business and also to expand geographically, in markets like Latin America, where it works with partners but would like more of a foothold.

The firm reported prelims today, which showed a company in rude financial health.
Buoyed by acquisitions (notably Idis and Link Healthcare) and organic growth, revenues rose 84% in the year ended June to almost £340mln.

This boosted underlying earnings (EBITDA) by 73% to £56nln, while the Clinigen appears to have become a ‘cash machine’, generating £49.4mln in the 12 months under review (a rise of more than 200%).

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Passing on the @Clinigen baton: Here’s CEO Peter George with designate @shaunchilton following this morning’s news that he is stepping down pic.twitter.com/ybuadWjVT3

— Clinigen Group (@Clinigen) September 28, 2016