Thursday 21 September 2017

Pharma firm Icon attributes sales hike of 23pc to new business

Abbott is to lay off 200 workers at its Clonmel pharmaceutical and medical devices manufacturing plant
Abbott is to lay off 200 workers at its Clonmel pharmaceutical and medical devices manufacturing plant
Sarah McCabe

Sarah McCabe

Irish-founded drug developer Icon saw sales jump by 21pc in the first three months of the year thanks to a surge in new business.

The company, which provides outsourced development services to pharmaceutical and medical device companies, has now raised its full-year sales forecasts. It expects to generate around $1.3bn (€985m) in 2013, and earnings per share of about $1.54 to $1.64.

Icon made sales of $334.2m between April and June, up from $227m in the same period last year.

Net profit, excluding a once-off restructuring charge, was $26.5m or 43c per share compared with $12.9m or 21c a share in the same period in 2012.

Headquartered in Dublin, the company currently employs about 10,170 people, in 78 locations in 37 countries. Icon was founded 23 years ago by Irish doctors John Climax and Ronan Lambe.

"I am happy that Q2 was another strong quarter for ICON” said chief executive Ciaran Murray. “We reported revenue growth of 21pc year on year and operating margins of 9.3pc. We have continued to book satisfactory levels of new business.”

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