New Milan Facility Centralises Activity in the Italian Market Milan, Italy, March 8th 2006 - Recognising the importance of the Italian pharmaceutical market, ICON (NASDAQ: ICLR), a global provider of outsourced development services to the pharmaceutical industry, today announced the opening of a new office in Milan. This office will support ICON's expanding clinical research activity in Italy.
Domenico Criscuolo, VP Regional Operations Europe for ICON, who will mange the Italian office, commented: "The increasing demand for drugs and the simplified approval process for clinical trials on new medicines have helped the pharmaceutical industry in Italy to develop significantly. ICON has over 25 studies currently in progress in the country. The new office will provide an important base for experts with the local knowledge and skills to support further innovation in drug development in Italy"
ICON has already delivered over 800 hundred clinical trials in more than 50 countries, enabling organisations to reduce their drug development costs in all major therapeutic areas. A significant part of this work has been conducted in Italy, which is currently the fifth largest pharmaceutical market in the world and the third largest market in Europe. Legislation passed in the late 1990s, pre-empting the EU Clinical Trials Directive, has helped to speed up the approval process for clinical trials in Italy, which can now take between two to three months.
Dr. Peter Sowood, President of ICON Clinical Research in Europe commented:
"The opening of ICON's new office in Milan illustrates the company's strong commitment to a lasting presence in Italy and supports ICON's growth strategy in Western Europe. The office will serve as a hub of clinical research excellence in the country and will support further drug development in the region."
ICON is a global provider of development services to the pharmaceutical, biotechnology and medical device industries, specializing in the management, execution and analysis of complex, multinational clinical trials. ICON experts have successfully conducted over 2000 development projects and over 1500 consultancy engagements across major therapeutic areas. Currently, ICON has over 3000 employees, operating from 41 offices in 27 countries. For further information, please visit our website at www.iconclinical.com
Last updated on: 27/08/2010