NEW YORK, July 30, 2012 /PRNewswire/ -- Icon plc (NASDAQ: ICLR: $24) has been picked by S&P Capital IQ as its Focus Stock of the Week. ICLR's American depositary shares (ADSs) carry S&P Capital IQ's highest investment recommendation of 5-STARS, or Strong Buy. ICLR is a leading global contract research organization (CRO) providing outsourced clinical research and development services to the pharmaceutical, biotechnology, and medical devices industries.
"Large pharmaceutical companies are continually seeking to drive efficiencies in their drug development processes to reduce costs associated with the development of new drug candidates and accelerate time to market," said Jeffrey Loo, equity analyst at S&P Capital IQ. "This has resulted in pharmaceutical firms increasingly outsourcing various research and development functions to CROs, and we believe the main beneficiaries are the larger global CROs such as ICLR."
To view a video of Mr. Loo discussing ICLR click on the following link. Weblink to video
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