INC Research Holdings Inc (INCR)

History and Background

INC Research Holdings Inc. was a global contract research organization (CRO) founded in 1987. It played a significant role in the pharmaceutical and biotechnology industries by providing clinical development services to support drug discovery and commercialization. The company underwent significant transformation, including a merger with inVentiv Health in 2017, leading to the formation of Syneos Health. Therefore, INC Research Holdings Inc. as a standalone entity no longer exists in its original form.

Core Business Areas

• Clinical Development Services: Provided a full range of clinical trial services, including study design, site selection and management, patient recruitment, data management, biostatistics, and medical writing across various therapeutic areas.
• Regulatory Affairs and Consulting: Offered expertise in navigating complex regulatory landscapes, assisting clients with submissions to regulatory bodies like the FDA and EMA.
• Late-Phase Clinical Research: Focused on Phase III and IV clinical trials, post-marketing surveillance, and real-world evidence generation.
• Biopharmaceutical Development: Supported the development of both small molecule drugs and biologics, from early-stage research to late-stage commercialization.

Leadership and Structure

As INC Research Holdings Inc., it operated with a traditional corporate structure, led by a CEO, CFO, and other executive officers. The organizational structure was designed to support its global operations and service delivery across numerous clinical research projects. Following its merger into Syneos Health, leadership and structure were integrated into the new entity.

Key Offerings

• Full-Service Clinical Trials: Managed end-to-end clinical trials for pharmaceutical and biotech companies. This was its primary service offering, contributing the vast majority of its revenue. Competitors included IQVIA, PPD (now part of Thermo Fisher Scientific), Covance (part of Labcorp), and ICON plc.
• Regulatory Consulting: Provided guidance and support for regulatory submissions and compliance. This was a smaller but important service segment, with competitors like Parexel and smaller specialized consulting firms.
• Data Management and Biostatistics: Offered robust data management and statistical analysis for clinical trial data. This service was integrated into their broader clinical trial offerings, with similar competitors to full-service trials.

Industry Overview

The contract research organization (CRO) industry is a critical component of the global pharmaceutical and biotechnology sectors. It is characterized by a high degree of specialization, regulatory scrutiny, and the need for scientific expertise. The industry is driven by the increasing complexity and cost of drug development, the outsourcing trends by pharma and biotech companies, and the demand for specialized services and technologies.

Positioning

INC Research was positioned as a leading global CRO, particularly strong in late-phase clinical development and specific therapeutic areas. Its competitive advantages included its experienced scientific and clinical teams, established relationships with investigators and regulatory bodies, and a global operational footprint. The merger with inVentiv Health created a larger, more diversified entity with expanded capabilities.

Total Addressable Market (TAM)

The global CRO market is valued in the tens of billions of dollars and is projected to continue growing significantly. INC Research, as part of Syneos Health, has a substantial share within this TAM, focusing on clinical development, real-world evidence, and commercialization services.

Key Competitors

• IQVIA (IQV)
• Thermo Fisher Scientific (TMO) - specifically its PPD division
• Labcorp Drug Development (LH) - specifically its Covance division
• ICON plc (ICLR)
• Parexel International Corporation

Competitive Landscape

The CRO market is highly competitive, with several large players and numerous smaller, specialized firms. INC Research, as part of Syneos Health, competes by offering a comprehensive suite of services, deep therapeutic expertise, and strong client relationships. Key competitive factors include price, service quality, therapeutic area specialization, geographic reach, and technological capabilities. Larger competitors like IQVIA often have broader data and technology offerings, while specialized CROs may offer niche expertise.

inVentiv Health

• Year: 2017
• Acquisition Price (USD millions):
• Strategic Rationale: Merger of equals to create Syneos Health, a comprehensive biopharmaceutical solutions organization with expanded global reach, a broader service offering (integrating clinical development with commercialization services), and enhanced capabilities in areas like data analytics and patient support.

Historical Growth: INC Research experienced significant growth throughout its existence, driven by the increasing trend of outsourcing by pharmaceutical companies and its expanding service offerings. The merger with inVentiv Health was a pivotal growth strategy, creating a larger, more comprehensive organization.

Future Projections: Future growth for the entity that INC Research became (Syneos Health) is projected to be driven by continued outsourcing trends, expansion in emerging markets, and advancements in drug development technologies. Analyst projections would focus on revenue growth, EBITDA margins, and market share expansion.

Recent Initiatives: The most significant recent initiative for INC Research was its merger with inVentiv Health to form Syneos Health in 2017. This strategic move aimed to create a leading end-to-end biopharmaceutical solutions organization with enhanced capabilities and a broader service portfolio.

INC Research Holdings Inc. was a significant player in the CRO market, specializing in clinical development. Its strategic merger with inVentiv Health to form Syneos Health created a stronger, more diversified entity. The company's strengths lie in its experienced teams and global reach, but it faces intense competition and the need for continuous innovation in data analytics and emerging markets. The combined entity has a solid position but must navigate evolving regulatory landscapes and client demands.

Data Sources:

• Company historical filings (SEC)
• Industry reports and market analysis
• Financial news and press releases

Disclaimers:

This JSON output is based on historical information and publicly available data. INC Research Holdings Inc. as a standalone entity has been merged into Syneos Health. Financial data and market share figures are approximate and subject to change. This analysis is for informational purposes only and does not constitute investment advice.