In a wider industry dominated by huge multinationals with household names, the story of Irish-based drug research company Icon will have gone unnoticed by many. Last week, Icon withdrew its financial guidance for 2025 – and said its results for the fourth quarter would be two months late. Its rivals have also posted disappointing results recently – citing cancellations of contracts – and seen their stock market valuations take a hit. In its statement to the markets last week Icon said it expected to “report one or more material weaknesses” as a result – though it denied that customers had been affected. Yesterday Icon shares were trading at around $96 – compared to $143 the day before the accounting probe was made public.

Source: The Irish Times February 20, 2026 16:31 UTC