Updates

Clinigen - Completes £225m Idis acquisition

June 2015

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

We omitted an update last month on Clinigen, which since our last note has completed the transformational acquisition of Idis, a leading provider of unlicenced medicines, financed by a placing of new shares at 500p to raise £135m. But it is probably divine providence that we are including it this month because of a read across to our main write up of Quantum Pharma (see page 1).Idis is the global leader in the supply of unlicenced medicines with sales of £197m and ebitda of £15.6m for the year to end February. Clinigen has paid £225m for Idis, which equates to 14.4x ebitda (c.12.4x once certain synergies are achieved). The acquisition adds an astounding 73% to Clinigen’s gross profits and lessens the exposure to Clinigen’s speciali ...

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Clinigen (November 2016)

Clinigen (October 2016)

Clinigen (October 2015)

Clinigen (August 2015)

Clinigen (April 2015)

Clinigen (February 2015)

Clinigen - Acquires speciality products (September 2014)

Clinigen - Company reassures investors with trading update (August 2014)

Clinigen (March 2014)

Clinigen - Growing rapidly into valuation (February 2014)

Clinigen - On lookout for 3-5 more deals (November 2013)

Clinigen - Another upgrade to forecast (September 2013)

Clinigen - First of half a dozen deals (April 2013)

Clinigen - Acquisition anticipated in March (March 2013)

Clinigen - Trial services to grow at 17% annual clip (December 2012)

Clinigen - New issue growing like topsy (November 2012)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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