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

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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