ICON plc

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• ICON plc
• Goldman Sachs Mid-Cap
• Conference
• March 11th 2005

www.iconclinical.com
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Overview
Forward Looking Statements
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.
www.iconclinical.com
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Snapshot

• Fourth largest Clinical CRO in the world
• Quintiles
• PPD
• Parexel
• ICON
• Dedicated team model and quality ethos
  differentiates ICON from competitors
• Over 300m in Net Revenues and approx 2700 staff
• 37 offices in 23 countries on five continents

www.iconclinical.com
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Offices US

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Offices Europe and Middle East
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Offices ROW
Montreal
Seoul
Sydney
Hong Kong
Bangkok
Tokyo
Taiwan
Chennai
Buenos Aires
Singapore
www.iconclinical.com
Johannesburg
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Current Services in Drug Development
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)
3 IVRS (Global)
2.5 Central Imaging Lab (US EU)
2.5 Contract Staffing (US)
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ICON plc Market Dynamics
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Three Elements Supporting Growth

• Growth in Underlying spending (1)
• Total 2005 RD spend estimated at gt 82bn 10
  growth forecast to continue
• Total 2005 Development Spend estimated at gt54bn
  11 growth forecast
• Continued growth in outsourcing(1)
• Industry estimated to outsource approximately 27
  of development and growing by 1 per annum.
• Market growth estimated at 14
• Pharma reducing supplier numbers
• Fewer CROs servicing Large Pharma Market
  share gains for Global and multi-service CROs

www.iconclinical.com
(1) Source Jeffries Co.
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Strong Market Environment

• Preferred Providers
• Improving Pipelines
• Biotech / Specialty Companies
• Regulatory Environment

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RFP Volume / Value Trends US Last 4 Quarters
RFP Value Growth
RFP Volume Growth
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Bio-Tech, Mid-Sized and Japanese companies are
now significant outsourcers

• Biotech and specialty companies account for a
  growing percentage of projects in development
  55 of 2002 Clinical trials are derived from
  biotech companies.
• Currently estimated to be more compounds in
  development in biotech/specialty than in all of
  Top 20 Pharma
• ICONs sales to non Top 20 pharma companies have
  been rising strongly

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Scope for Growth
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ICON Gross Business WinsLast 9 Quarters
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Total Backlog Millions
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ICON plcFinancial Performance(Fiscal Years
ending May 31)
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Net Revenue CAGR of 38 over last 5 Years
CAGR 38
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7 Years of Earnings Per Share Growth.
CAGR 35
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However, ICON Has Traditionally Experienced Low
Cancellation Rates but in Q1 05
Cancellations as of Opening Backlog
46m cancellations inc. 2 major projects
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Quarterly Revenue and Operating Profit
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Quarterly EPS
FY2000
FY2001
FY2005
FY2004
FY2003
FY2002
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Summary Balance Sheet and Cashflow ( millions)
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Current Issues / Strategic Development
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Current Tactical Issues

• Recovery from Exceptional Cancellation Quarter to
  Restore Growth
• Net Wins 120m in Nov Qtr
• Good net wins again expected for Feb quarter

• Capitalise on Lab Investments and Sales Success
  to Eliminate Losses
• Continue Sales Success
• Add more major clients
• Develop technological base

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ICON LABS Net New Business Wins
Average Book-to-Bill 1.35
Net Business Wins
Book to Bill Ratio
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Strategic Mission

• To continue to develop our business as a global,
  full service, clinically focused CRO, and to
  leverage the synergies between our multiple
  services.

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Use Full Service to Leverage Client
Relationships and Capture more of the Spend
Strategic Product Development / Consulting 6
Phase I 5
Central Laboratory 8
Central Imaging Lab 2.5
Clinical Trial Management Phase II IV 57
IVRS 2.5
Data Management Biostatistics 16
Contract Staff 3
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Current Strategic Initiatives

• Investing in Operations in Japan
• Creation of Data Management Operation in India
• Partnership with Medidata Solutions in EDC
• Developing specialised Phase IV Division
• New IT in 2005 to enhance efficiency
• New Trial Management and Project Collaboration
  Systems
• New Document Management System
• New eLearning System

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Current Acquisition / Investment Focus

• Central Labs
• to increase scale
• Additional Central Imaging Expertise
• to broaden offering
• Phase I in US
• to compliment EU facility
• Analytical Labs
• to compliment EU facility
• New Expertise in any of core areas
• to add scale / unique expertise

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Future Development
Organic

• Get more business from current clients
• Add new clients
• Sell more new services - IVRS/Lab/Consulting/Phase
  I
• Expand global presence
• Increase therapeutic experience

Acquisitions

• Add new services and broaden existing ones

Goal

• To be the best

www.iconclinical.com
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