IQVIA falls on forecast cut due to delay of two 'mega-trials'
** Shares of contract research firm IQVIA holdings IQV.N decline about 9% to $197 premarket
** Co sees 2024 revenue to be between $15.35 bln and $15.4 bln vs prior range of $15.43 bln to $15.53 bln previously expected
** IQV says lowering outlook to "reflect delays in two fast-burning mega trials due to client-related short-term logistical challenges."
** Co says trials are now expected to ramp up in the second half of 2025
** IQV also trims the upper end of its adjusted per share profit forecast to $11.20 vs $11.30 previously, maintains the lower end at $11.10 per share
** Analysts were expecting revenue of $15.47 billion and adjusted profit of $11.21 per share for 2024, according to estimates compiled by LSEG
** As of last close, stock down ~7% YTD
Reporting by Bhanvi Satija in Bengaluru
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