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26 Nov 2020 | 09:18

Clinigen trades in line despite ongoing Covid-19 impact

(Sharecast News) - Pharmaceutical and services company Clinigen said on Thursday that trading had been in-line with market expectations despite the ongoing impact of the Covid-19 pandemic. Clinigen stated its clinical services and commercial medicines units had continued to recover in-line with trends the group saw at the beginning of the current trading year.

However, Clinigen noted that the effects of Covid-19 were "more evident" within its unlicensed medicines division as hospital demand continued to be subdued.

In spite of this, the AIM-listed group highlighted that it had continued to deliver "good progress" from a new business perspective and had also seen "a continuing improvement" in demand for its key asset, Proleukin.

"The board reiterates its previously issued guidance for 2021, with organic net revenue growth expected to be towards the lower end of our 5%-10% medium-term guidance range," said Clinigen.

"As previously stated, we expect growth to be more weighted to H2 than in previous years due to the impact of Covid-19 and the timing of shipments for Proleukin to key customers."

As of 0915 GMT, Clinigen shares were down 0.90% at 632.29p.
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