TFS performs clinical trials in the human phase on behalf of the pharmaceutical, biotechnology and medical device industries, as well as associated sectors. TFS is a clinical research organisation (CRO) that offers broad medical competence and niche expertise, providing global clinical trials to its customers in a regulated and safe manner. TFS has offices in Europe and North America, and conducts trials in a total of 40 countries.
The estimated value of the global CRO market is about USD 35 billion. The expanding market is driven by pharmaceutical companies increasingly focusing on their core operations (R&D), as well as the need to adhere to the increasing requirements and complexity of the regulatory frameworks. TFS’s core expertise lies in serving small and medium-sized pharmaceutical, biotechnology and medical device companies where there is a growing outsourcing trend for clinical trials. The CRO market is expected to grow annually by approximately 6–8%.
TFS’s key sustainability issues comprise following up respect for human rights and reasonable working conditions in the value chain, primarily pertaining to contracted suppliers, and ensuring good ethics, quality and patient safety during trials as well as preventive anti-corruption efforts.
Growth initiatives and geographic expansion
TFS has well-established and strong customer relations, and has developed a stable international platform in a market segment that is expanding as the demand for these service offerings increases. Consequently, the focus is on continuing to grow organically. Concurrently, we see a clear consolidation trend in the industry, opening up to interesting add-on acquisitions.