February 24, 2021 | Health Care | North America | Ended

PRA Health Sciences / ICON: New Deal Insights

Within the Pharmaceutical Outsourcing (PO) industry, M&A among Contract Research Organisations (CRO) slowed in 2020 since COVID-19 caused many clinical trials to be delayed. Now, with stresses of the pandemic somewhat subsiding, and new technology advances to conduct decentralised trials, consolidation within the CRO subsegment is ramping up. Dublin-based ICON and North Carolina-based PRA Health Services are the latest CROs to agree to a tie up, and a definitive agreement was signed on 24-Feb-21. Deal risks assessed in this research report: • Horizontal antitrust in creating the #2 player globally • Acquirer vote or bid, since shares are -11.6% since announcement

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