TFS is a global, mid-sized, clinical contract research organisation (CRO) that supports pharmaceutical companies through the entire clinical development process. TFS focuses its scientific and medical competence across a broad therapeutic spectrum, with industry-leading capabilities in dermatology, oncology and haematology. TFS has two business Areas: Clinical Development Services (CDS), which offers clinical trials for small pharmaceutical companies during the development process, and Strategic Resourcing Solutions (SRS), which offers resource solutions featuring clinical professionals and targeting major pharmaceutical companies. Over the past five years, TFS has been involved in approximately 1,100 studies in 40 countries across Europe and North America.
The global CRO market is a high-growth market, driven primarily by increased regulatory complexity for studies combined with an increased share of clinical studies that are outsourced. The CDS business area primarily focuses on pharmaceutical customers and competing with other mid-sized CROs. The SRS business area is primarily focused on other major pharmaceutical customers and usually competes with staffing companies specialising in medical resources.
During the year, Bassem Saleh was appointed as the CEO of TFS. Bassem most recently served as Business Area Manager for CDS. In conjunction with the change of CEO, a restructuring was carried out in order to increase the efficiency of the operations and reduce the company’s fixed costs. The costs associated with these measures amounted to about EUR 3.9m and the aim is to achieve improved profitability of approximately EUR 2.8m in 2020.
TFS considers a sustainable environment integral to the organization. TFS’s corporate culture thrives on delivering high-quality services, with sustainability regarded as a cornerstone in its partnerships with customers. When it comes to sustainability, TFS’s focus areas include equal opportunities, patient safety and data integrity, compliance with laws and regulations, talent development, business ethics and anti-corruption.