Icon buys US firm for €106m

Dublin-based pharmaceutical services provider Icon has made its second significant expansion announcement in less than a week, with the acquisition of US market intelligence agency MediMedia Pharma Solutions for $120m (€106m) in cash.

The news follows on from last Thursday when Icon —which acts as a global provider of outsourced development services to the pharmaceutical, biotechnology and medical devices sectors — announced plans to create 200 jobs in Ireland via the establishment of a global innovation hub to be divided between Dublin and Limerick.

The MediMedia deal will strengthen Icon’s expertise in scientific communications and market access. The company will be linked with the Dublin firm’s existing Commercialisation and Outcomes division and will create the pharma industry’s leading integrated scientific communications and market access solution.