CRO giant Icon ($ICLR) is looking to expand its share of the drug development market in Asia, hiring a pair of local veterans to deepen its ties to the region.
The company recruited Mary Pan, formerly of Becton Dickinson ($BDX), to serve as its vice president for Asia Pacific. Prior to joining BD, Pan held positions at CRO ClinTec International, Johnson & Johnson ($JNJ) and Pfizer ($PFE).
Icon also hired Hiroshi Ichikawa in the role of vice president and general manager for Japan. Ichikawa brings 30 years of Japanese drug development experience, with stints at Sankyo, CMIC Japan and A2Healthcare. He is also the former CEO of Japanese CRO Asklep, which acquired a CRO he founded.
With its two new managers on board, Icon is focused on expanding its presence in Asia. The Irish company employs about 2,600 people in the region across 22 offices, and Icon expanded in Japan with its 2014 acquisition of local CRO Niphix. Now, as demand for Asian clinical development services increases, the company is hoping to build on its existing capacity in the area.
"Asia-Pacific continues to be an important region for our clients and we are committed to growing our presence and enhancing our capabilities in the region," Icon President Nuala Murphy said in a statement. "... (Pan and Ichikawa's) strong knowledge of the Asian clinical development landscape, coupled with their demonstrated leadership in growing successful operations in Asia, will be invaluable as we look to expand in this important region."
Icon has been steadily growing since leaving the Irish Stock Exchange for the Nasdaq in 2013. In the first 9 months of this year, the company has booked $1.2 billion in revenue, pacing 5.2% ahead of 2014. Icon is expecting full-year revenue to come in at about $1.6 billion.
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