After two rounds of less-than-impressive financial results, Clinigen’s (CLIN) latest trading update is reassuringly solid. In the year to June 2018, the group will report a 16 per cent increase in gross profits (the group’s most accurate top-line measure) and even faster growth in adjusted cash profits thanks largely to the strength in the commercial medicines portfolio.
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That division (which contributed 49 per cent of gross profits in the first half of the year) should be boosted by new products from the Quantum Pharma portfolio (which was acquired in late 2017) and ProLeukin – a cancer drug made by Swiss pharma giant Novartis which Clinigen has gained the commercial rights to outside of the US.