Fortrea Holdings Inc

FTRE: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$91.60	Lwkfsc	Vgzfvfxt

Narrow-Moat Fortrea Faces Challenges Associated With Spinoff; Positive Long-Term Outlook

Rachel Elfman

Aug 13, 2024

Business Strategy and Outlook

Fortrea is a global, late-stage contract research organization, or CRO, that provides comprehensive Phase I through IV clinical trial management, clinical pharmacology, and patient access solutions. Fortrea has a lengthy, 30-year history dating to the 1990s, originally part of Corning Incorporated's pharmaceutical services business. In 1997, Corning spun off this segment, which was named Covance. In 2015, Laboratory Corporation of America Holdings, or Labcorp, acquired Covance for $6.1 billion.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

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United States