Update: The strength of the strategy is showing through
Clinigen has reported a positive trading update that confirms progress is being maintained as expected. Clinigen operates in highly specialised and defensive niches that benefit from the pharmaceutical industry’s greater outsourcing of non-core functions. This, together with the rising regulatory burden and requirement for auditable supply chains, suggests the solid growth will continue. Our valuation is based on a number of parameters and the range is wide at £479-510m (580-618p a share), suggesting our current value of £495m (600p a share) has scope to rise over time.Clinigen Group is engaged in the pharmaceutical and services industry, with a combination of businesses focused on providing access to medicines. Co. has three synergistic operations: Clinical Trial Services, which is engaged in the specialist supply and management of comparator medicines and services to clinical trials and Investigator Initiated Trials; Unlicensed Medicines, which is engaged in sourcing and supplying unlicensed medicines, manages early access programs, and provides on-demand access globally to medicines which remain unlicensed at the point of care; and Commercial Medicines, which has global rights to niche hospital-only and critical care products.
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