Full Press Release Details
Acquires PriceSpective
Value Strategy Consultancy Deepens ICON's Pricing and Market Access
DUBLIN--(BUSINESS WIRE)--February 28, 2012--ICON plc, (NASDAQ:ICLR)
(ISIN:IE0005711209), a global provider of outsourced development
services to the pharmaceutical, biotechnology and medical device
industries, today announced the acquisition of PriceSpective LLC, a
global leader in value strategy consulting. The acquisition strengthens
ICON's expertise in value based pricing and market access, and together
with the health economics and patient reported outcomes services
acquired through Oxford Outcomes, enables ICON to offer the industry's
most integrated regulatory, clinical and market access solution.
Headquartered in Philadelphia, and with offices in London, Los Angeles,
San Diego, Raleigh and Boston, PriceSpective is a premier consultancy
that has a strong reputation for excellence in strategic pricing, market
access, HEOR, due diligence support and payer engagement services. Since
the company's inception in 2003, PriceSpective has developed strategies
for dozens of new product launches, and hundreds of development and
in-market products, across 40+ disease areas.
Commenting on the acquisition, Ciaran Murray, CEO at ICON plc, said:
"Payers are increasingly demanding evidence not only of product
efficacy, but also value for money which has led to an upsurge in client
demand for research that links efficacy, value and price.
PriceSpective's strategic expertise, coupled with its strong network of
relationships with thousands of payers and market experts worldwide,
makes it the perfect addition to our service portfolio."
Murray added, "The acquisition of PriceSpective, and Oxford Outcomes in
2011, demonstrates our commitment to providing clients with integrated
service offerings to support early-stage, pre-launch and post-launch
"With a shared vision of an integrated approach to value, pricing and
access strategy, PriceSpective is delighted to join forces with ICON to
offer an expanded, leading edge service to our clients," said Steve
Slovick, PriceSpective President. "The need for manufacturers to embrace
a paradigm of value-driven development has never been greater, and the
combined group has unparalleled expertise, resources and insight to
fully support our clients in this area."
PriceSpective is a value strategy consultancy that defines, drives, and
captures value for pharmaceutical and biotechnology clients in today's
complex healthcare environment. The company delivers expert guidance in
integrated global pricing, reimbursement and market access strategy with
its depth of experience and actively engaged senior leadership.
PriceSpective is headquartered in Philadelphia with offices in London,
Los Angeles, San Diego, Raleigh and Boston.
Further information is available at www.pricespective.com
ICON plc is a global provider of outsourced development services to the
pharmaceutical, biotechnology and medical device industries. The Company
specialises in the strategic development, management and analysis of
programs that support clinical development - from compound selection to
Phase I-IV clinical studies. ICON currently has around 8,500 employees,
operating from 81 locations in 40 countries.
Further information is available at www.iconplc.com
DISCLOSURE NOTICE: This release contains, and our officers and
representatives may from time to time make, "forward-looking statements"
within the meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking statements can
be identified by words such as: "anticipate," "intend," "plan,"
"expect," "strategy" and similar references to future periods.
Forward-looking statements are neither historical facts nor assurances
of future performance. Instead, they are based only on our current
beliefs, expectations and assumptions regarding the future of our
business, future plans and strategies, anticipated events and trends,
the economy and other future conditions. Because forward-looking
statements relate to the future, they are subject to inherent
uncertainties, risks and changes in circumstances that are difficult to
predict and many of which are outside of our control. Our actual results
may differ materially from those indicated in the forward-looking
statements. Therefore, you should not rely on any of these
forward-looking statements. Important factors that could cause our
actual results to differ materially from those indicated in the
forward-looking statements include, among others, strategic actions,
including our success in integrating PriceSpective; general economic and
financial conditions; the extent to which we are successful in
implementing our strategy, gaining new, long-term relationships with
customers and retaining existing ones; the risk of competition on our
industry; developments and changes in laws and regulations; and such
other factors as discussed in Part I, Item 3 "Risk Factors" in our Form
20-F for the fiscal year ended December 31, 2010. Any forward-looking
statement made by us in this release is based only on information
currently available to us and speaks only as of the date on which it is
made. We undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or otherwise.
ICON Investor Contacts
Farthing, VP Investor Relations
Rosie Allan /Genevieve Tuck