Tuesday June 2, 2020

Drug testing firm Icon braced for revenue hit due to coronavirus

The company conducts clinical drug trials on behalf of pharmaceutical giants

Ian Guider

Markets Editor

@ianguider
3rd May, 2020
Steve Cutler, Icon’s chief executive, said 2020 would be a “difficult year” for clinical research companies as trials and testing are delayed

Icon, the Dublin-based drug testing company, has said that the Covid-19 pandemic will have a significant impact on its revenues, costing it almost €110 million this quarter.

Icon, which conducts clinical drug trials on behalf of major pharmaceutical companies, has said the measures put in place to close non-essential workplaces has meant that many of the third party sites it works with are currently closed.

Although some drug trials can take place off-site the closure...

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