Fortrea Holdings (FTRE)

Fortrea works with both emerging biopharma companies and large pharmaceutical groups, giving clients flexibility in how they outsource research. Its model includes full-service trial delivery, functional service provider arrangements, and hybrid structures that combine elements of both. This allows sponsors to use Fortrea for an entire study or for specific functions such as site management, monitoring, biometrics, or patient recruitment.

The company became an independent public company in 2023 after Labcorp separated its clinical development business. That business had roots in Covance, a long-established CRO acquired by Labcorp in 2015. As a result, Fortrea enters the public markets with an established operating base, global relationships, and experience in complex clinical research.

Fortrea’s market is shaped by rising drug development costs, demand for faster trial execution, and the increasing use of outsourced research partners by life sciences companies. Its role is to support sponsors in moving therapies and medical products through the evidence-generation process required for approval, market access, and post-approval use.