Clinigen Group, the global specialty pharmaceutical products and services business, today announced the integration of Keats Healthcare, a company acquired in 2010, and outlined the group´s ambitious growth projections for the next three years.
Effective immediately, Keats Healthcare will become known as Clinigen CTS and will be a dedicated Clinigen unit focused on sourcing and supplying drugs for exclusive use in pharmaceutical customers´ clinical studies. "Since the acquisition, we have clearly benefited from our alignment with the Clinigen brand," said Steven Campbell, vice-president of Clinigen CTS. "Our expertise lies in the supply of comparator and supportive drugs and we look forward to continuing this important work as part of the broader Clinigen Group."
The consolidation of Keats and its rebranding to Clinigen CTS reflects Clinigen´s strategy of building a group of complementary businesses. Clinigen CTS and Clinigen GAP, a provider of global access programs, together make up Clinigen´s services division, led by Shaun Chilton, who was appointed chief operating officer in January 2012.
"While providing standalone services, the Clinigen GAP and Clinigen CTS teams have learnt that they can support each other," said Mr Chilton. "Clinical trial aftercare is often managed through compassionate use or named patient programs. This is where Clinigen GAP can take over from the work of Clinigen CTS, guaranteeing that patients will continue to receive the treatments they need."
The consolidated Clinigen Group is structured to drive robust growth from both products and services. In 2011, Clinigen CTS accounted for two-thirds of Clinigen Group´s sales. Over the next three years, Clinigen GAP and Clinigen Healthcare, a pharmaceutical products company, are expected to make a bigger contribution to the group´s overall sales.
Clinigen Healthcare acquired Foscavir (foscarnet sodium) from AstraZeneca in 2010, seeing sales grow six-fold in 2011. By introducing Foscavir into new territories and securing new licensed indications for the product, Clinigen expects sales of the antiviral to more than double again by the end of the current financial year.
Clinigen hopes to make three additional product acquisitions by 2015 to create a portfolio of drugs generating around £35 million of annual revenue. The firm is in discussions with top 50 pharmaceutical companies looking to divest off-patent mature assets.
Clinigen GAP generated £1.9 million last year, but new programs are expected to triple this figure in 2012. Mark Corbett, Clinigen GAP´s global strategic planning director, said: "Global access programs have longer lead times than other pharmaceutical service agreements, but some of the discussions we´ve been having with companies have come to fruition. In addition, some of these have turned into conversations about potential product disposals, allowing us to pass on opportunities to Clinigen Healthcare."
Peter George, chief executive of Clinigen Group, stated: "Creating a consolidated organisational structure is a core part of Clinigen´s ambitious five-year business plan to deliver four-fold sales and six-fold profit growth. Two years in, we are well on target."
About Clinigen
Clinigen Group was formed by merger in 2010 to create a specialty pharmaceutical and pharmaceutical services company focused on getting medicines to physicians and their patients. The merger brought together three companies: Clinigen CTS (formerly Keats Healthcare) and Clinigen GAP, which make up Clinigen´s services division, and Clinigen Healthcare, the group´s products business.
Clinigen Group is headquartered in Burton-on-Trent, UK, with offices in Philadelphia, US, and Tokyo, Japan.
For more information visit Clinigen´s new website: www.clinigengroup.com.
