SHARES in Icon fell 5% on New York’s NASDAQ yesterday after the Dublin-based clinical research group reported lower second quarter profits and cut its full-year forecasts.

ICON, the Nasdaq-listed Irish clinical research group, lost 22% of its value at one stage yesterday after warning that revenue growth would be slower than expected.

ICON, the listed clinical trials company, has reported a 42% surge in third quarter pre-tax profits helped by a strong pipeline of new business wins.