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 equal opportunities, talent development, patient safety and data integrity, compliance with regulations, business ethics and anti-corruption. Patient safety and data integrity are TFS’s top priorities and the company is committed to ensuring compliance with all legal and regulatory requirements throughout the supply chain. TFS’s employees are its most valuable resources and in order to retain and attract talent, TFS focuses on creating a work environment based on mutual respect and trust, where people can develop. TFS has zero tolerance for all forms of corruption and makes active efforts to ensure that no corrupt practices take place within the TFS Group.
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.