ICON Plc, a Dublin-based clinical research company, has acquired Veeda Laboratories, an Oxford-based subsidiary of Veeda Clinical Research Group.

ICON Plc, a Dublin-based clinical research company, has acquired Veeda Laboratories, an Oxford-based subsidiary of Veeda Clinical Research Group.

Veeda Laboratories specialises in biomarker laboratory services to the pharmaceutical and biotechnology industries. Veeda will be integrated into ICON Development Solutions, the company’s biomarker division.

Thomas Frey, president of ICON Development Solutions, commented:  “Biomarkers of disease are assuming an ever increasing role in the discovery and development of drugs.”

Added Frey: “In Veeda Laboratories, we have acquired a company that has a very strong reputation for biomarker development and has well-established relationships with top-tier pharmaceutical and biotechnology companies.”

ICON reported an increase in revenues of 37 per cent to $865 million (£532 million), with operating profit up by 44% to $99.5 million (£61.3 million).