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  • DUBLIN a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries, announced its financial guidance for the year ended December 31, 2017. For the full year 2017 revenue will be in the range of USD 1,700 - USD 1,750 million, representing growth of 2 - 5% and earnings per share will be in the range of USD 5.00 - USD 5.20, representing growth of 6 - 11%.

    CEO Ciaran Murray commented “We expect 2017 to be another year of revenue and earnings growth for ICON. Our success in developing new customer relationships has further diversified our customer base and we expect to grow revenue by 2 - 5% while reducing the full year concentration of our largest customer to circa 15 - 17%. We continue to see good demand across all of our service lines from large pharma customers alongside a continuing flow of business from mid-size, speciality pharma and device companies. In addition to this organic growth we will continue to deploy capital to maximize shareholder value through a combination of “bolt-on” M&A that will enhance our capabilities and share repurchases.”

    The full year 2017 financial guidance assumes:

    • Top customer concentration to reduce to circa 15 - 17% of revenue from circa 24 - 26% in 2016.
    • US dollar to Euro exchange rate of USD 1.05 (constant currency revenue growth of circa 3 - 6%).
    • An effective tax rate of circa 14%.
    • Circa USD 300 million of free cash flow and capital expenditures of circa USD 45 million.
    • USD 110 million worth of shares repurchased in Q4 2016 from current USD 400 million repurchase programme contributing circa 10c to 2017 earnings.
    • Remaining authorisation of USD 290 million to be executed opportunistically during 2017 depending on cash commitments to support M&A pipeline, no additional earnings benefit included in guidance.

    With respect to 2016, the company confirmed its current guidance, of earnings in the range of USD 4.60 - USD 4.80 and revenue in the range of USD 1,665 - USD 1,680 million


    This press release contains forward-looking statements. These statements are based on management's current expectations and information currently available, including current economic and industry conditions. These statements are not guarantees of future performance or actual results, and actual results, developments and business decisions may differ from those stated in this press release. The forward-looking statements are subject to future events, risks, uncertainties and other factors that could cause actual results to differ materially from those projected in the statements, including, but not limited to, the ability to enter into new contracts, maintain client relationships, manage the opening of new offices and offering of new services, the integration of new business mergers and acquisitions, as well as economic and global market conditions and other risks and uncertainties detailed from time to time in SEC reports filed by ICON, all of which are difficult to predict and some of which are beyond our control. For these reasons, you should not place undue reliance on these forward-looking statements when making investment decisions. The word "expected" and variations of such words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are only as of the date they are made and we do not undertake any obligation to update publicly any forward-looking statement, either as a result of new information, future events or otherwise. More information about the risks and uncertainties relating to these forward-looking statements may be found in SEC reports filed by ICON, including its Form 20-F, F-1, S-8 and F-3

  • Takeda Pharmaceutical Company Limited announced that they have entered into a definitive agreement under which Takeda will acquire all of the outstanding shares in ARIAD for $24.00 per share in cash, or an enterprise value of approximately $5.2 billion. The transaction has been approved unanimously by the boards of directors of both companies, and is expected to close by the end of February 2017, subject to required regulatory approvals and other customary closing conditions. Sarissa Capital, the holder of 6.6% of ARIAD’s common shares, as well as each of the members of ARIAD’s Board of Directors have agreed to tender their shares to Takeda pursuant to the offer

  • Prima BioMed Ltd, a leading immuno-oncology company, announced that it has entered into a new collaboration agreement with Japan’s CYTLIMIC, a recent spin off from NEC Corporation (NEC), to test a cancer peptide vaccine in combination with IMP321.
    Under the new Material Transfer Agreement (MTA) Prima will provide IMP321 for a formulation development targeting a new pre-clinical and clinical development study to be conducted by CYTLIMIC. The development will be funded by CYTLIMIC and the MTA will be revenue generating for Prima

  • Mast Therapeutics, Inc.,a publicly traded biopharmaceutical company, and Savara Inc. (Savara), a privately-held emerging specialty pharmaceutical company, announced that the two companies have entered into a definitive merger agreement, under which the stockholders of Savara would become the majority owners of Mast, and the operations of Mast and Savara would be combined.  Subject to stockholder approval, the combined company will advance a pipeline of novel inhalation therapies for the treatment of diseases with significant unmet medical needs, featuring three product candidates, each in advanced clinical development.

  • Sobi Canada Inc., a subsidiary of Swedish Orphan Biovitrum AB (publ) (Sobi), announced that Health Canada has approved Orfadin (nitisinone) capsules for the treatment of hereditary tyrosinaemia type-1 (HT-1) in combination with dietary restriction of tyrosine and phenylalanine. HT-1 is a rare genetic disease that affects infants and children. It is progressive and may result in liver, brain and kidney complications and can be fatal if untreated.

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  • Alexion Pharmaceuticals, Inc. announced that the U.S. Food and Drug Administration (FDA) has granted orphan drug designation (ODD) to ALXN1210, a highly innovative, longer-acting anti-C5 antibody that inhibits terminal complement, which is being evaluated for the treatment of patients with paroxysmal nocturnal hemoglobinuria (PNH). PNH is a debilitating, ultra-rare, life-threatening blood disorder in which uncontrolled activation of complement, a component of the immune system, results in hemolysis (destruction of a patient’s red blood cells).

  • Adamas Pharmaceuticals, Inc.  announced that the U.S. Food and Drug Administration (FDA) has accepted for review the New Drug Application (NDA) for ADS-5102 (amantadine hydrochloride) extended-release capsules, for the treatment of levodopa-induced dyskinesia (LID) in patients with Parkinson's disease. The ADS-5102 application has been given a Prescription Drug User Fee Act (PDUFA) target action date of August 24, 2017.

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