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ICON Trims Revenue Outlook, Boosts Profits

Monday, January 19, 2009 09:13 AM

While Kendle and Parexel became the latest contract research organizations (CROs) to lower their profit and revenue outlooks last week, one CRO actually increased its earnings expectations.

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ICON's Q3 Revenues Up 35%

Tuesday, October 21, 2008 10:17 AM

Dublin, Ireland-based contract research organization (CRO) ICON released third quarter financial results that show a 35% increase in revenues compared with the same period last year. Net revenues for the quarter were $225.5 million, compared with $166.9 million in the third quarter of 2007. Year-to-date net revenues are up 43.4% to $645.2 million, exceeding net revenues achieved in all of 2007, according to a company release. Operating profits the first nine months of 2008 were $73 million. Net income jumped 46% to $21.4 million or 35 cents per share on a diluted basis, compared with $14.5 million or 24 cents per share in the prior year's quarter.

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Eurofins AvTech Names New President

Thursday, September 11, 2008 10:20 AM

Eurofins AvTech Laboratories, a Portage, MI-based contract research organization (CRO), has appointed three senior-level executives to its management team. Dr. Raymond Farmen was named president. Farmen is responsible for general management, technical and profit/loss decisions for the company. He also will provide technical and scientific direction for method development, bioanalytical, product testing and animal health areas. In addition to Farmen, Dr. Steven Weber has joined AvTech’s senior management team as director, Bioanalytical, and Leon Clark, Jr. is director, Animal Health.

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ICON Steers Toward Integrated Oncology Service Model

Tuesday, June 27, 2006 03:48 PM

During DIA 2006, CenterWatch got the inside scoop on ICON's new The Oncology Solution service model during an interview with imaging CRO Beacon Bioscience’s David LaPoint, Vice President of Business Development. Beacon Biosciences was acquired by ICON Clinical in July 2004. According to LaPoint, the solution will allow ICON to bring together their full range of clinical service offerings, including imaging, central laboratory, IVRS and CRF data services.

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CenterWatch’s 42nd Annual DIA Round Up

Monday, June 26, 2006 10:57 AM

This year’s Drug Information Association (DIA) 42nd annual industry conference, held in Philadelphia, Penn attracted nearly 10,000 attendees from across every sector in the drug development industry. Presenting at the show were over 400 U.S. and close to 200 international companies, from both developed markets and emerging regions around the globe. Nearly 1,000 delegates from 50 countries were scheduled to attend.

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A Stock Split Can Make You Forget

Wednesday, February 15, 2006 11:06 AM

PPD's two-for-one stock split is good news for the top global clinical research organizations. Investors attracted to the sector by the company's split announcement Feb. 8 can focus on PPD and other top CROs rather than the sideshow embattled SFBC has become. When new investors look at top CROs such as PPD, Quintiles , PRA, ICON, Parexel and Covance, they will see the pharmaceutical outsourcing industry ready to consolidate around a handful or so of these companies.These global CROs have a big advantage over the estimated 1,000 other small CROs throughout the world. They have international infrastructure in place to conduct complex clinical trials in thousands of patients at sites across multiple countries.That global presence is not easy to build and represents a barrier to entry for small CROs trying to roll up into a global player.

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