This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ICON Acquires BeijingWits Medical Consulting Ltd

ICON plc, (NASDAQ: ICLR; ISIN: IE0005711209), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today announced that it has agreed, subject to closing conditions, to acquire BeijingWits Medical Consulting Ltd., a leading CRO in China. The transaction is expected to close in the first quarter of 2012.

BeijingWits offers full-service clinical development capabilities and has a strong track record in clinical trial execution in China. The company is a renowned expert in Chinese regulatory processes and a leading advocate of ICH GCP in China. In addition to boosting ICON’s service capabilities in the region, BeijingWits will also strengthen ICON’s presence through the addition of over 100 highly qualified and experienced professionals in Beijing, Shanghai, Chengdu, Guangzhou, Wuhan and Hong Kong.

“The acquisition of BeijingWits is a further step in our on-going expansion in China and the greater Asia-Pacific region,” commented Ciaran Murray, CEO, ICON plc. “An increasing number of our global clients are looking to undertake research in China and local companies are also placing more emphasis on R&D, which has resulted in growing demand for local clinical trial expertise. BeijingWits brings to ICON a strong leadership team, experienced staff and good relationships with local investigator sites and regulatory bodies.”

“We are delighted to be joining with ICON,” commented Dr. Yan Bin Xie, General Manager and founder of BeijingWits Medical Consulting Company. “The clinical research market in China is at an exciting stage and combining our local knowledge with ICON’s global infrastructure and experience will offer clients a formula for successful clinical development. ICON has strong growth plans for China and Asia-Pacific and we look forward to playing a leading role in helping them achieve these goals.”

About Beijing Wits Medical Consulting Company

Beijing Wits Medical Consulting Company was founded in 1997. The company provides services to global and local pharmaceutical, medical device and biotechnology companies focusing on Phase I to IV Clinical studies. Beijing Wits currently has more than 100 employees, operating from 6 offices in China.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs