Clinical trials firm Icon acquires UK company

DUBLIN-BASED clinical trials company Icon has acquired British pharmaceutical research firm Oxford Outcomes for an undisclosed sum.

Icon will create a specialised late phase and outcomes research services unit as a result of the acquisition. The Nasdaq-listed company said the purchase arises from growing client demand.

Oxford Outcomes is headquartered in Oxford in England and has four other offices in Canada and the US. These offices will remain in operation following the acquisition, with Oxford Outcomes’ 78-strong workforce transferring to Icon.

Oxford Outcomes specialises in post-marketing research in the area of health economics, outcomes research and epidemiology. Group managing director of Oxford Outcomes Paul Quarterman said the deal with Icon would allow the company to integrate clinical development effectively with outcomes research on a global scale.

Icon was founded in Dublin in 1990 by Dr John Climax and Dr Ronan Lambe. It provides outsourced clinical trial services to the pharmaceutical, biotechnology and medical device industries.

The latest results for Icon, which has a secondary listing in Dublin, showed the company had net revenue of $225 million in the third quarter of 2010.

It employs about 7,800 people in 39 countries.