Labcorp spins off Fortrea contract research organization with stock debut on the Nasdaq

Labcorp
LH,
+0.35%
said Monday it completed the spin-off of Fortrea
FTREV,
-3.98%
as an independent contract research organization (CRO) that specializes in Phase I-IV clinical trial management, patient access and technology solutions to pharmaceutical and biotechnology organizations around the world. Fortrea will begin trading on the Nasdaq starting on Monday under the symbol “FTRE”. Labcorp stock is up 2.3% in premarket trades.