Clinigen Group Sells UK Compounding Business for GBP7.8 Mln

By Ian Walker

Clinigen Group PLC said Wednesday that it has agreed to sell its non-core U.K. specials manufacturing and aseptic compounding business for up to 7.8 million pounds ($10.8 million), as part of the company’s simplification plan.

The U.K. provider of pharmaceutical products and services said it expects to book an exceptional loss of around GBP9.6 million in its fiscal 2021 accounts due to the sale.

The business generated revenue of GBP38.8 million for the year ended June 30, 2020, and adjusted earnings before interest, taxes, depreciation and amortization of GBP1.0 million.

Shares at 0916 GMT were down 9.0 pence, or 1.4%, at 630.0 pence.

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