Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech

Icon beats Street on Q2 earnings, acquires Mapi Group

July 27, 2017 By Chris Newmarker

IconDrug development provider Icon PLC (Nasdaq: ICLR) saw its stock jump about 6% in value today after announcing second-quarter earnings that beat analysts’ expectations.

The Dublin, Ireland–based company, which serves the pharmaceutical, biotechnology and medical device industries, also said it has acquired the Mapi Group, which provides patient-centered health outcomes research and commercialisation. Financial terms of the deal were not disclosed.

For the quarter ended June 30, Icon earned $64.8 million, or $1.19 per share, off $431.0 million in revenue – up from earnings of $61.1 million, or $1.08 per share, off $410.6 million in revenue during the same quarter a year ago.

Minus non-recurring charges, Icon earned $1.31 per share during the second quarter, beating analysts’ consensus by a penny. Revenue was also above the $430.85 million predicted by analysts polled on Yahoo! Finance.

CEO Steve Cutler boasted of  $563 million of new business for the company. He said the company is increasing its full-year earnings per share guidance to a range of $5.18 t0 $5.38, and revenue guidance to a range of $1.74 billion to $1.77 billion. Analysts had previously predicted full-year earnings of $5.17 per share off $1.73 billion in revenue.

The Mapi Group acquisition further expands Icon’s capabilities, Cutler said. On top of adding commercialisation presence, analytics, real world evidence generation and strategic regulatory expertise, the deal gives Icon access to the Mapi Research Trust, touted as the industry’s most subscribed library of clinical outcomes assessments (COAs).

“Our customers will also benefit from Icon’s access to the industry’s broadest set of COA tools and instruments as well as new and enhanced real world data sets,” Cutler said. “Mapi has been a pioneer of late phase and outcomes research since their foundation and we are delighted to welcome their team of experts to Icon.”

Icon’s stock was trading at nearly $106 per share near the end of trading today, up about 6%.

[Want to stay more on top of MDO content? Subscribe to our weekly e-newsletter.]

Related Articles Read More >

A portrait of AcuityMD co-founder and CEO Michael Monovoukas
Device commercialization platform AcuityMD raises $31M Series A to fund R&D engineer hiring
Harvard Science and Engineering Complex SEC SEAS Harvard John A. Paulson School of Engineering and Applied Sciences
Here’s where Harvard’s engineering dean sees medtech research going
An illustration of a cloud-shaped room filled with medical devices
The cloud is transforming medtech: Amazon, Microsoft, Google, J&J, Philips and GE Healthcare leaders explain
MIT GI pressure detection device
MIT researchers think their tube-based device could improve gastrointestinal disorder diagnosis

DeviceTalks Weekly.

May 20, 2022
DeviceTalks Boston Post-Game – Editors’ Top Moments, Insulet’s Eric Benjamin on future of Omnipod 5
See More >

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Enewsletter Subscriptions

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • MedTech 100 Index
  • Medical Tubing + Extrusion
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertise With Us
  • Subscribe to Print Magazine
  • Subscribe to E-newsletter
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our DeviceTalks Tuesdays Discussion

Copyright © 2022 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Contract Manufacturing
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • The Big 100
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • 2022 Leadership in MedTech
    • 2022 Leadership Voting!
    • 2021 Winners
    • 2020 Winners
  • Women in Medtech