JPM 2025: ICON, PPD talk trial sector volatility; NVIDA outlines IQVIA accord
Volatility was a common theme for ICON and PPD during their presentations at the JP Morgan Healthcare Conference last week, with both contractors acknowledging that 2024 was a challenging year for the CRO sector.
ICON: Cautious spending will shape 2025, but signs are good for longer term
Clinical trial activity has been impacted by cautious biopharma spending, according to Icon, which predicted 2025 would be a “transitional” year during its presentation.
CEO Steve Cutler told attendees, “We believe 2025 will be a transition period, really due to a combination of market and customer-specific factors for Icon,” adding that, “In the longer term, 2026-2027, we do believe normal growth will be resumed.”
In a separate statement, the Dublin-based contractor said it expects full year revenue to be between $8,050 million to $8,650 million, up 1% last year. Similarly, it predicted earnings per share would be between $13 and $15, roughly the same as for 2024.
PPD: Cancellations and new business wins in 2024
PPD has been less impacted by volatility seen in the clinical trials space in 2024, according to parent company Thermo Fisher Scientific, which told delegates the year was shaped by both cancellations and new business wins.
CEO Mark Casper made the comments during his presentation, citing the low single-digit growth seen at PPD in the first nine months of 2024 and “some important new clients” as evidence.
“When I think about the trends that others have talked about, we see those trends, maybe to a lesser extent in some areas than others, but we certainly have seen some cancellations. … And I think that goes a lot with some of the pipeline reprioritizations that were happening across the industry.”
NVIDA teams with IQVIA on AI for clinical trials
IQVIA was also present at JPM 2025, at least in name, with AI firm NVIDIA using its presentation to unveil a clinical trial-focused partnership with the services firm.
The collaboration – financial terms not disclosed – will focus on the use of artificial intelligence (AI) in clinical trials, according to Kimberly Powell, NVIDA’s vice president of healthcare, who said the idea is to see how AI can improve clinical studies.
“How can we accelerate the pace of clinical trials? How can we use this [AI] to reduce the administrative burden of clinical trials? ... and really imagine how we are going to see a different clinical trial process” she told delegates.
According to a press statement, IQVIA will work with NVIDIA to develop and optimize AI agents with initial solutions expected to reach the market within the year.
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