ICON plc Goldman Sachs Twenty Sixth Annual Global Healthcare Conference 14 th June 2005 ICON plc Goldman Sachs Twenty Sixth Annual Global Healthcare Conference

ICON plc

Goldman Sachs

Twenty Sixth Annual Global Healthcare Conference

14th June 2005

ICON plc

Goldman Sachs

Twenty Sixth Annual Global Healthcare Conference

14th June 2005

www.iconclinical.comwww.iconclinical.com

Overview


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.

Forward Looking Statements


Global Full Service Drug Development

>$300m in Revenues

37 Offices in 23 Countries

Pre-clinical Phase I Phase II Phase III Launch Phase IV

6% Strategic Drug Development and Regulatory Consulting (US & EU)

5% Phase I

8% Central lab (Global)

16% Data Management & Statistical Consulting (Global)

57% Trial Management & Monitoring (Global)

2.5% Contract Staffing (US)

2.5% Central Imaging Lab (US & EU)

3% IVRS (Global)

Use “Full Service” to Leverage Client Relationships and Capture more of the Spend

Strategic ProductDevelopment /

Consulting 6%

Strategic ProductDevelopment /

Consulting 6%

Clinical Trial ManagementPhase II – IV

57%

Clinical Trial ManagementPhase II – IV

57%

Phase I5%

Phase I5%

Central Laboratory

8%

Central Laboratory

8%

IVRS2.5%

IVRS2.5%

Contract Staff3%

Contract Staff3%

Central Imaging Lab2.5%

Central Imaging Lab2.5%

Data Management &

Biostatistics16%

Data Management &

Biostatistics16%

Strong Market Environment

R&D Spending Growth

Improving Pipelines ~ more outsourcing

Biotech / Specialty Companies

Regulatory Environment

Preferred Providers


Phase II – IV RFP Volume / Value Trends

Q4 FY04 v Q4 FY05


26%

36%

0.0%

10.0%

20.0%

30.0%

40.0%

RFP Value Growth

34%

23%

0.0%

10.0%

20.0%

30.0%

40.0%

RFP Volume Growth

Geography = locus of work, not of client

Current Issues /

Strategic

Development

Current Issues /

Strategic

Development www.iconclinical.comwww.iconclinical.com


1.80%

0.80%

3.60%

1.30%

3.00%

4.30%

1.80%

3.00%

1.40%

0.60%

3.60%

2.30%1.70%

10.00%

0.40%

1.82%

3.60%

0%

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

Q301

Q401

Q102

Q202

Q302

Q402

Q103

Q203

Q303

Q403

Q104

Q204

Q304

Q404

Q105

Q205

Q305

ICON Has Traditionally Experienced Low Cancellation Rates but in August 04 ……

Cancellations as % of Opening Backlog

$46m cancellations inc. 2 major

projects

Current Tactical Issues

Recovery from Exceptional Cancellation Quarter to Restore Growth

Net Wins $120m in Nov ‘04 Qtr and $106m in Feb ’05 Qtr

Solid net wins again expected in May 05 quarter

Current RFP flow excellent


Capitalise on Lab Investments and Sales Success to Eliminate Losses

Continue Sales Success

Add more major clients

Continue to develop technological base

Phase I business now back in profit post EU Clinical Trials Directive


ICON LABS Net New Business Wins

Net Business Wins Book to Bill Ratio

$8.8

$6.6

$10.8$12.0

$4.9

$11.3

$6.9

$9.3

$11.80

$0

$5

$10

$15

$20

Q3 03 Q4 03 Q1 04 Q2 04 Q3 04 Q4 04 Q1 05 Q2 05 Q3 05

$ m

illi

on

s

1.4

1.8

1.5

1.1

1.9

0.7

1.41.9

0.97

Average

Book-to-Bill

1.4

Current Current Strategic Strategic InitiativesInitiatives

Investing in Operations in Japan – first significant project won in May

Creation of Data Management Operation in India – now 40 people and growing

Partnership with Medidata Solutions in EDC – gaining traction

Developing specialised Phase IV Division

New IT in 2005 to enhance quality, efficiency and customer service

New Trial Management and Project Collaboration Systems

New Document Management System

New eLearning System

Investment HighlightsInvestment Highlights

Global Major Late Stage CRO

Outstanding track record of organic growth

Strong fundamentals underpinning business

At significant discount to peers as market awaits clear signs of recovery from cancellations and in performance of Lab

Strong cash position and balance sheet

Documents

ICON plc Goldman Sachs Twenty Sixth Annual Global Healthcare Conference 14 th June 2005 ICON plc Goldman Sachs Twenty Sixth Annual Global Healthcare Conference