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ICON plc 28th Annual J.P. Morgan Healthcare Conference January 2010.

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Presentation on theme: "ICON plc 28th Annual J.P. Morgan Healthcare Conference January 2010."— Presentation transcript:

1 ICON plc 28th Annual J.P. Morgan Healthcare Conference January 2010

2 Forward Looking Statements Certain statements contained herein including, without limitation, statements containing the words “believes,” “anticipates,” “intends,” “expects” and words of similar import, constitute forward-looking statements concerning the Company's operations, performance, financial condition and prospects. Because such statements involve known and unknown risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, prospective investors are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This presentation includes selected non-GAAP financial measures. For a presentation of the most directly comparable GAAP financial measures, please refer to the Quarter 3 2009 press release consolidated income statement headed Consolidated Income Statements (Unaudited) (US GAAP)

3 Global Service Offering

4 Global Full Service Clinical Development

5 ICONs Global Footprint Operating from 68 offices in 38 Countries

6 ICON Plc Staff Growth 1990 - Today

7 ICON Plc – Staff Educational Qualifications

8 Drugs in Development by Indication (#compounds) ICON Backlog by Indication (Revenue) Drugs in Development by Indication Source – R&D Directions 9 th Annual Report

9 ICON Phase II-IV Clinical Research

10 Full range of Trial Management Services >5000 staff working on circa 400 studies with circa 100,000 patients in over 10,000 sites. ICON Phase II-IV Clinical Research

11 Electronic Data Capture (EDC) Medidata Rave/Phase Forward/ Oracle Clinical RDC / Sponsor systems Deployed on c.280 current studies. 2009 c.160 wins v’s 2005 c.17 wins Interactive voice response systems (IVRS) Patient enrolment, randomisation and management in 850 projects over 50,000 sites. Technology in Trial Management

12 ICON Laboratories

13 Capabilities in: Bio analytical Lab Bio-marker Lab Global Central Lab Global Lab footprint in key global regions, including the US, UK, Singapore, India and Ireland. All ICON laboratories are either GCP or GLP as well as CAP accredited. Our BA labs have over 1,500 assays developed in support of over 2500 studies. ICON Laboratories

14 ICON Early Phase Testing

15 Capacity in excess of 200 beds in the US and UK ICON is collaborating with the Central Manchester University Hospitals Foundation to develop a purpose-built translational medicine facility which will be open in 2010. ICON Early Phase Testing

16 ICON Medical Imaging

17 Market Leading positions in Oncology and CEC based on own proprietary Imaging Management Platform Provides world class solutions in the development of imaging biomarkers that support drug development Over 100 FDA submissions ICON Medical Imaging

18 DOCS (Contract Staffing)

19 Core Services: Functional Resourcing Flexible Resourcing Services Permanent Recruitment Support Training & Development Programs DOCS (Contract Staffing)

20 Market Environment

21 Opportunities…. but also Risks

22 No of Compounds in Development * Source :Pharmaprojects

23 Each 3% Increase in Outsourcing Penetration Drives a 9% Increase in the CRO Market Market Penetration 32.4% Market Penetration 35.4% 9%

24 Total Biotech Funding ($ Millions) * Source :Burrell and Co

25 CRO Market Size 1996 – 2012 (E)

26 ICON in this Market Environment

27 New Business Wins and Net Book to Bill Ratio (NB:B) Net Business Wins ICLR NB:B (12 Mth Avg.) Peer NB:B (12 Mth Avg.) Gross Business Wins Source: Jefferies & Co.

28 Analysis of Backlog by client type Q3 09

29 Total Backlog Level ($ Millions) +6% YoY

30 Value of backlog forecast to be earned in next 4 quarters Coverage of next 4 quarters from Backlog

31 Opportunities…. but also Risks Strategy

32 Build Deep Strategic Relationships Create Stronger differentiation across our services Retain a flexible business model to respond to differing client outsourcing strategies Build scale in early phase development Build scale in post approval business (Phase IV) Enter new/grow position in selected markets ICON’s Strategy

33 Quality

34 Quality and Delivery remains our Key Focus.

35 35 20072008 2009 (to End Sept) Regulatory Audits 339 ICON Internal Audits 863870836 Client & ISO Audits 255219194 Total 112110921039 We live Quality internally

36 Financial Performance

37 CAGR 28% Net Revenue CAGR of 28% since 2005 * Guidance range issued October 21 st 2009 Millions

38 EBITDA Margin Progression

39 EBIT Margin Progression (9 Mths to Sept.)

40 CAGR 37% Earnings Per Share Growth * Guidance range issued October 21 st 2009

41 FCF Free Cash Flow * Estimate assumes DSO of approx 60 days. Historic periods FCF exclude Dublin Campus construction costs

42 Return on Equity

43 Summary Balance Sheet and Cash Flow ($ millions) 9 Mths ended Sept 31, 09 Full Year ended Dec 31, 08 Cash$173.0$101.1 Debt$28.0$105.4 Net Cash/Debt$145.0($4.3) Total assets$922.1$867.3 Total Liabilities$381.3$410.9 Shareholder’s equity$540.8$456.4 Cashflow from operations$198.4$81.3 Capital expenditures$26.0$67.9

44 ICON S&P 500 Nasdaq Composite ICON Plc Historic Share Price Performane

45 Top Global Clinical CRO - #4 Deep customer relationships Quality of staff Experienced Management team Excellent Reputation Solid market fundamentals Outstanding record of growth Strong balance sheet Investment Case Summary

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