Fortrea

Fortrea Holdings Inc.
Company typePublic company
IndustryPharmaceutical industry
Founded1968 as Environmental Sciences Corporation
1996 as Covance
January 31, 2023 (2023-01-31) as Fortrea
HeadquartersDurham, North Carolina, U.S.; operations in over 90 countries
Key people
ServicesContract research organization
Revenue
  • US$2.696 billion (2024)
  • -US$275 million (2024)
  • -US$328 million (2024)
Total assets
  • US$3.579 billion (2024)
Total equity
  • US$1.362 billion (2024)
Number of employees
Approximately 15,500 (2024)
Websitefortrea.com
Footnotes / references

Fortrea Holdings Inc. is a contract research organization organized in Delaware and headquartered in Durham, North Carolina with operations in 90 countries. Its customers are primarily in the pharmaceutical, biotechnology, and medical device industries.

Its primary business is handling all aspects of clinical trials including phase I through IV clinical trial management, clinical pharmacology, and post-approval services. It handles regulatory affairs, protocol design, operational planning, study and site start-up, patient recruitment, project management, monitoring, data management and biostatistics, pharmacovigilance, medical writing, and mobile clinical services. It focuses on oncology, central nervous system and neurodegenerative, rare diseases, and cell and gene therapies. In the five years ending in 2023, it conducted more than 5,850 clinical trials involving over 1 million subjects. It also conducted over 600 studies for medical device companies.

The company is one of the largest participants in the international primate trade and has been criticized for its animal testing practices, most specifically animal testing on non-human primates.

The company traces its roots to Environmental Sciences Corporation, formed in 1968. It was known as Hazleton from 1972 to 1990, Corning Lab Services from 1990 to 1996, Covance from 1996 to 2021, and Labcorp Drug Development from 2021 to 2023.