Clinigen to acquire Link and strengthen global footprint

22nd Sep 2015 12:17

(ShareCast News) - Clinigen Group has announced a proposed acquisition of Link Healthcare.The purchase, announced on Tuesday, would strengthen the pharmaceuticals company's global footprint in Asia, Africa and Australasia.Clinigen chief executive Peter George said Link had excellent local knowledge and connections as well as established customers."There is a strong, and increasing, demand for hospital-based oncology, anti-infective, orphan and other crucial drugs in pharmerging markets."Link will enable us to directly supply much needed, but not always licensed, medicines into these growing markets."Clinigen will pay an initial consideration of £44.5m, which could rise to a maximum of £100m if performance milestones over two years are achieved.The company also released its full year result for 30 June, which saw an increase in revenue of 45% to £184.4m.Gross profit rose by 30%, led by a 25% growth in Clinigen Specialty Pharmaceuticals' gross profits and the acquisition of Idis Group Holdings Limited in April.