April 2010

Parexel Profits Rebound in Q3

Wednesday, April 28, 2010

Parexel came back from a tough second quarter with strong third quarter results, posting a 10.1% increase in service revenues. The CRO, whose year-over-year profits were cut in half in the second quarter due to a cancelled project, reported revenues of $291.2 million in Q3, compared with $264.5 million for the same period last year.

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ICON Earnings Flat in Q1

Tuesday, April 27, 2010

Dublin -based contract research organization ICON reported first quarter net revenues of $219 million, down slightly from $219.8 million in the same period last year.  Income from operations was $22.2 million, or $0.37 per share on a diluted basis, compared with $20.9 million, or $0.35 per share last year.

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PRA Expands into New Zealand

Wednesday, April 21, 2010

PRA International
expanded its Asia-Pacific operations into New Zealand, hiring staff there and establishing a legal entity. The New Zealand staff will work closely with PRA’s office in Sydney, Australia. New Zealand is a key research location for studies in skin cancer, multiple sclerosis, and asthma, the CRO said. The country is known for high recruitment rates, an efficient regulatory environment and counter seasonality—which is advantageous to influenza and allergy studies.

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Covance to Close Preclinical Site

Tuesday, April 20, 2010

Covance is closing a testing site in Kalamazoo, Mich., as part of the CRO’s ongoing efforts to cut back its preclinical services. The site will be closed by November, and, according to published reports, 63 workers will lose their jobs.

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