Clinigen Group plc Clinigen acquires IMMC in Japan
23 October 2017 - 5:00PM
RNS Non-Regulatory
TIDMCLIN
Clinigen Group plc
23 October 2017
RNS Reach
23 October 2017
Clinigen acquires Japan's largest supplier of unlicensed
medicines
Clinigen Group plc (AIM: CLIN, 'Clinigen' or the 'Group'), the
global pharmaceutical and services company, has today acquired
International Medical Management Corporation ('IMMC'), Japan's
largest supplier of unlicensed medicines, for an undisclosed
sum.
The acquisition will add to Clinigen's existing footprint in the
country following the launch of its Japanese business in October
2016. The acquisition of IMMC is part of Clinigen's strategy to
become the 'go to' global leader in ethical access to unlicensed
medicines and will allow the Group to better address unmet patient
needs.
IMMC, established in 2006, operates throughout Japan in sectors
including niche vaccine, oncology and IVF. It currently has
relationships with more than 850 hospitals and clinics, which will
now be able to benefit from the broader access to medicines
available as part of Clinigen.
Japan is the world's second largest pharmaceutical market. The
unlicensed medicines market in Japan is underdeveloped, highly
regulated and well controlled leading to a high unmet medical need.
For instance, from the 154 new drugs launched globally between 2008
and 2012, two thirds still remained unavailable in Japan by 2013,
illustrating the difficulties patients in Japan have in accessing
approved medicines.
The threat of counterfeit medicines entering the supply chain in
Japan, also remains an issue. Japan is the second-largest target of
illegal online medicine sellers in the world behind the US.
IMMC was acquired for an upfront cash payment followed by
certain potential milestone-based instalments over 12 months.
In the year ended 30 September 2017 the unaudited IMMC gross
profit was Yen352m (GBP2.4m).
Shaun Chilton, Group Chief Executive Officer, Clinigen,
said:
"This acquisition represents another strategic development,
extending our geographical footprint and another step to becoming
the global leader in ethical access to unlicensed medicines. The
enlarged Japanese operation adds further capability in this high
growth market which is crucial to our customers and a key part of
Clinigen's global offering."
Yoshiyuki Kudo, President, IMMC, said:
"Clinigen's global expertise and our local knowledge will allow
us to better address the unmet patient need in Japan, further
benefiting our customers and increasing our offering in access to
unlicensed medicines."
- Ends -
Contact details
Clinigen Group plc Tel: +44 (0) 1283
495010
Shaun Chilton, Group Chief
Executive Officer
Martin Abell, Group Chief
Financial Officer
Numis Securities Limited Tel: +44 (0) 20 7260
1000
Michael Meade / Freddie Barnfield
(Nominated Adviser)
James Black / Tom Ballard
(Corporate Broking)
RBC Capital Markets - Joint Tel: +44 (0) 20 7653
Broker 4000
Marcus Jackson / Elliot Thomas
/ Jack Wood
Instinctif Partners Tel: +44 (0) 20 7457
2020
Melanie Toyne-Sewell / Alex Email: clinigen@instinctif.com
Shaw
Notes to Editors
About Clinigen Group
Clinigen Group plc (AIM: CLIN) is a global pharmaceutical and
services company with a unique combination of businesses focused on
providing access to medicines. Its mission is to deliver the right
medicine to the right patient at the right time through three areas
of global medicine supply; clinical trial, unlicensed and licensed
medicines.
Clinical Trial Services
Clinigen is the global market leader in the specialist supply
and management of quality-assured comparator medicines and services
to clinical trials and Investigator Initiated Trials.
Unlicensed Medicines
Clinigen is the global leader in ethically sourcing and
supplying unlicensed medicines to hospital pharmacists and
physicians for patients with a high unmet medical need. The Group
manages early access programmes to innovative new medicines and
provides 'on-demand' access globally to medicines which remain
unlicensed at the point of care.
Commercial Medicines
The Group acquires global rights to niche hospital-only and
critical care products, revitalising these assets around the world
and returning them back to sustained growth. The Group also
provides access to licensed and branded generic medicines in the
Africa and Asia Pacific region.
For more information on Clinigen, please visit
www.clinigengroup.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
NRAEASEEALAXFFF
(END) Dow Jones Newswires
October 23, 2017 02:00 ET (06:00 GMT)
Clinigen (LSE:CLIN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Clinigen (LSE:CLIN)
Historical Stock Chart
From Jul 2023 to Jul 2024