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Fortrea (FTRE) - 2024 FY - Earnings Call Presentation
Fortrea Fortrea (US:FTRE)2025-06-17 12:04

Market Overview - The current Fortrea total addressable market size is over approximately $35 billion[8] - The Pharma & Biotech clinical development spend is over approximately $100 billion[8] - The industry projects a 6-9% long-term CRO market growth and a 3-5% near-term CRO market growth[8] - The industry projects an approximate 4% annual increase in CRO outsourcing rate[8] - Total Pharma R&D spend is projected to increase from $262 billion in 2023E to $302 billion in 2028E[8] Fortrea's Strategy and Operations - Fortrea was formed as an independent, publicly-listed company on July 1, 2023[12] - Fortrea conducts operations in over 90 countries[16] - More than one third of TSAs were exited by December 31st, 2023, with the remainder targeted for exit by December 31st, 2024[27] Quality and Compliance - Fortrea has conducted 797 customer audits and 391 regulatory inspections since 2020[32] - Fortrea has over 129 QA professionals globally, with over 42% having 5+ years tenure with Fortrea[32]