Icon expands into gov’t sponsored research

By Melissa Fassbender contact

- Last updated on GMT

Icon’s announcement today secures a new line of customers and extends its capabilities. (Image: iStock/tah778)
Icon’s announcement today secures a new line of customers and extends its capabilities. (Image: iStock/tah778)

Related tags: Clinical trial

Icon’s acquisition of Clinical Research Management (ClinicalRM) expands its presence in the government sponsored research market.

The acquisition follows the company’s re-sign with Pfizer, a three-year agreement under which Pfizer has the opportunity to extend the term for up to two additional years – a change in terms from its previous contract.

The news also follows inVentiv coming out​ as Pfizer’s fourth CRO, earlier this week. This addition, while speculated for some time, is likely to shake up Pfizer’s deals​ with its other CROs, including Icon.

Specifically, analysts expect Icon to see less business from the pharma giant. As Outsourcing-Pharma.com previously reported​, David Windley, CFA, CPA, Managing Directors, Healthcare Equity Research, Jefferies, expects Icon will have a smaller slice of Pfizer’s business as it doesn’t want to be “as exposed to one vendor as they have been in the past​.”

However, Icon’s announcement today secures a new line of customers and extends its capabilities in the areas of vaccines and infectious disease – presumably, as it also looks to be less reliant on one company.

ClinicalRM currently provides full service and functional research solutions to a range of US government agencies. ICON’s CEO, Ciaran Murray commented on the government sponsored research market in the company’s press release, saying that it is “significant with over fifteen hundred active clinical studies being funded by the National Institutes of Health or other federal agencies​.”

Murray added that ClinicalRM’s relationships and experience will help the company partner successfully with government sponsors as Icon looks to diversity its customer base.

Icon did not respond to a request for comment.

Related news

Show more

Related products

show more

How clinical trial software can optimize trials

How clinical trial software can optimize trials

Formedix | 09-Jun-2021 | Technical / White Paper

This article explains the different types of clinical trial software available, and how it can be used to optimize the end to end clinical trials design...

Adapting supply chains to new ways of working

Adapting supply chains to new ways of working

World Courier | 01-Jun-2021 | Technical / White Paper

COVID-19 has changed the way we operate. We have adapted our supply chain solutions to meet our clients’ requirements while following World Courier standard...

What are the building blocks of DCTs?

What are the building blocks of DCTs?

Medable | 26-Apr-2021 | Technical / White Paper

How to create a seamless experience across eConsent, eCOA and more.

Over the past year, tremendous progress was made toward digitizing and...

How a clinical metadata repository helps with data

How a clinical metadata repository helps with data

Formedix | 22-Mar-2021 | Technical / White Paper

This article covers the various ways a clinical metadata repository helps with data quality, and in turn, with data quality in the clinical trials process....

Related suppliers

Follow us

Products

View more

Webinars