Fortrea Completes Expansion of Clinical Pharmacology Solutions Following Targeted Investments at its Four Clinical Research Units in U.S. and U.K.

Adds speed and agility with cGMP production at on-site pharmacies, adds capacity, improves flexible therapeutic capabilities and enhances experience for study volunteers

DURHAM, N.C., Nov. 02, 2023 (GLOBE NEWSWIRE) — Fortrea (Nasdaq: FTRE) (the “Company”), a leading global contract research organization (CRO), today announced that it has completed a multi-year effort to expand its clinical pharmacology solutions and capacity, which are now fully available for customers. The expansion includes a 100,000 square feet state-of-the-art facility in Leeds, U.K. as well as approximately 20,000 square feet of new or renovated space, adding capacity and capabilities across its clinical research units (CRUs) in Dallas, Texas; Daytona, Florida; and Madison, Wisconsin.

“The increasing complexity of clinical pharmacology studies demands fit-for-purpose infrastructure, experience and expertise to protect the safety of study participants and the integrity of critically important data,” said Oren Cohen, M.D., Fortrea’s president of Clinical Pharmacology and chief medical officer. “Our integrated platform of services includes best-in-class infrastructure and experienced professionals who are fully dedicated to clinical pharmacology, including physicians, nurses, clinical scientists, CRAs and pharmacokineticists. The investments we have made target the capabilities and capacity that customers need to accurately assess early pipeline candidates and speed those with promise to later-phase development and ultimately to patients who need them.”

Facility enhancements following the completed expansion include Fortrea’s new CRU in Leeds as well as purpose-built rooms in Madison and Daytona designed for flexibility in executing complex early phase clinical studies. Improvements in recreational, living and “work-from-home” spaces at Fortrea CRUs have been constructed to enhance the experience of volunteers participating in research at the sites.

The expansion of Fortrea’s early clinical development pharmacy services facilities includes new state-of-the-art cGMP pharmacies in the Leeds and Daytona CRUs. All Fortrea CRUs will now have cGMP pharmacies within them. This enables on-site manufacture of sterile and non-sterile drug product. The design of its GMP-compliant facilities provides safe handling and delivery of GMP-quality drug product for the unique demands of clinical pharmacology studies, focusing on efficiency and flexibility with the level of controls expected by regulatory authorities and sponsors.

Enhancements in science and technology include the addition of artificial intelligence-enabled programs that optimize bed space utilization and clinic scheduling, and the application of failure modes and effects analysis to de-risk study execution before a study begins. Following investments in data collection systems, all clinical pharmacology study data collected within Fortrea’s CRUs are input directly into a digital bedside data capture system, which can also be used as an efficient electronic data capture solution.

“I believe Fortrea’s early clinical development solutions set a new standard for what the research industry should expect from its partners,” said Dr. Cohen. “I’m so proud of this team and know they will also benefit from the changes we have made. Just as they are inspired by our mission of bringing life-changing treatments to patients faster, I’m inspired by their dedication each day as we deliver solutions to our customers.”

About Fortrea

Fortrea (Nasdaq: FTRE) is a leading global provider of clinical development and patient access solutions to the life sciences industry. We partner with emerging and large biopharmaceutical, medical device and diagnostic companies to drive healthcare innovation that accelerates life changing therapies to patients in need. Fortrea provides phase I-IV clinical trial management, clinical pharmacology, differentiated technology enabled trial solutions and post-approval services.

Fortrea’s solutions leverage three decades of experience spanning more than 20 therapeutic areas, a passion for scientific rigor, exceptional insights and a strong investigator site network. Our talented and diverse team of more than 19,000 people working in more than 90 countries is scaled to deliver focused and agile solutions to customers globally.

Learn more about how Fortrea is becoming a transformative force from pipeline to patient at Fortrea.com and follow us on LinkedIn and X (formerly Twitter) @Fortrea.

Cautionary Statement Regarding Forward-Looking Statements

Some of the statements in this press release, particularly those relating to the anticipated financial and other benefits, including, but not limited to, whether the investments at clinical research units in U.S. and U.K. will add capacity, improve therapeutic capabilities, enhance experience for study volunteers, speed development to later-phase trials and improve the integrity of data and whether the addition of artificial intelligence-enabled programs will optimize bed space utilization and clinic scheduling, are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties, many of which are beyond the Company’s control. Actual results could differ materially from expectations expressed or implied in the forward-looking statements if one or more of the underlying assumptions or expectations prove to be inaccurate or are unrealized. Important factors that could cause actual results to differ materially from such expectations are and will be detailed in Fortrea’s registration statement on Form 10 initially filed with the SEC on May 15, 2023 (as amended and further supplemented), Fortrea’s quarterly report on Form 10-Q filed with the SEC on August 14, 2023, and in Fortrea’s other filings with the SEC. These forward-looking statements are based on management’s current expectations and are subject to certain risks, uncertainty and changes in circumstances. Fortrea does not undertake responsibility for updating these statements, and these statement speak only as of the date of this press release.

Fortrea Contacts:

Fortrea Media: Sue Zaranek – 919-943-5422, media@fortrea.com
Fortrea Media: Kate Dillon – 646-818-9115, kdillon@prosek.com
Fortrea Investors: Hima Inguva – 877-495-0816, hima.inguva@fortrea.com

Punjab University Announces Holiday on 9 November

Punjab University has officially announced a holiday on the occasion of Iqbal Day.

According to the official notification, Punjab University will remain closed on 9 November, Thursday.

There has been a lot of confusion among the masses regarding the public holiday on 9 November. It is primarily due to the fact that the Iqbal Day holiday remained suspended from 2015 to 2021.

On 8 November 2022, then PM Shehbaz Sharif declared Iqbal Day as a holiday. Later in December, the Interior Ministry also notified Iqbal Day 2023 as a public holiday.

However, previous experiences are causing confusion among the public.

In a separate but recent development, Punjab University became the best university in Pakistan in Times Higher Education (THE) World University Rankings 2024 by Subject.

Out of 11 subjects, Pakistani universities were ranked in 9 subjects. Out of those, Punjab University was ranked in 7 subjects, making it the most-ranked Pakistani university.

Source: Pro Pakistani

Peshawar University Relaunches Old Department With No Admission Fee

The Seerat-un-Nabi (SAW) Studies Department at the University of Peshawar has been re-established with free admissions after a seven-year hiatus.

The department had been closed in 2016 due to low enrollment numbers.

The inauguration of the department was presided over by Khyber Pakhtunkhwa Governor Haji Ghulam Ali.

He was joined by prominent religious scholars, including Mufti Ghulamur Rahman, Mufti Shahbuddin Popalzai, and Maulana Mohammad Idrees, as well as the Vice-Chancellor, Dr. Mohammad Idrees, and former provincial ministers such as Maulana Amanullah Haqqani and Zahir Shah, among others.

In response to the Vice-Chancellor’s request, the governor not only announced free admissions but also reduced fees by 30 percent for Arabic and Islamic Studies programs.

Dr. Idrees pledged that the department would receive the necessary faculty and resources without delay.

Source: Pro Pakistani

BCCI Announces Fireworks Ban at ICC World Cup Matches in Mumbai and New Delhi

The BCCI (Board of Control for Cricket in India) announced on Wednesday that fireworks will not be allowed at the ongoing ICC World Cup matches in Mumbai and New Delhi due to dangerous levels of pollution.

Concerns about air quality in the commercial capital of India forced the Board of Control for Cricket in India to take action.

BCCI secretary Jay Shah said in a statement, “BCCI is sensitive to environmental concerns. I took up the matter formally with the ICC, and there won’t be any fireworks display in Mumbai, which can add to the pollution level.”

Jay Shah said, “The BCCI acknowledges the urgent concern surrounding air quality in both Mumbai and New Delhi.”

He added, “While we strive to host the World Cup in a manner befitting the celebration of cricket, we remain steadfast in our commitment to prioritizing the health and safety of all our stakeholders.”

The air quality in Mumbai, as per India’s National Air Quality Index, was categorized as “poor” at 18:30 local time when the team commenced their training. The concentration of pollutants in Mumbai exceeded the World Health Organization’s recommended limit by four times.

It should be noted that the host India is currently playing against Sri Lanka at Mum­bai’s Wankhede Stadium.

India and Sri Lanka were the finalists in the 2011 World Cup, which India won at the same venue, securing their second World Cup victory.

Source: Pro Pakistani

Top 20 Searches That Made Google the Most Money in 2018

Not every search makes money for Google. Search queries like “US president in 1836” or “Facebook login” are not something you can put ads on. In fact, Google says that it serves ads on only 20% of its total queries.

Searches that make Google money are known as “commercial queries.” Some examples include “cheapest flights to London” or “best phones of 2023” and this week we got a rare insight into what Google searches made the most money for the company.

This information came from the ongoing US vs Google antitrust trial. It revealed the most lucrative search queries for Google for a week of September back in 2018. This list is ordered by revenue and it was only revealed to the public after Judge Amit Mehta pushed Google for more information.

These were the top 20 most revenue-generating queries for Google in the US:

iphone 8

iphone 8 plus

auto insurance

car insurance

cheap flights

car insurance quotes

direct tv

online colleges

atandt

hulu

iphone

uber

spectrum

comcast

xfinity

insurance quotes

free credit report

cheap car insurance

aarp

lifelock

The revenue generated from all these queries was redacted in the document. Take a look at the image below.

There are three search queries for the iPhone alone, which makes sense since the iPhone 8 launched around that time. Several retailers, carriers, accessory makers, and others were likely trying to be at the top of every search result.

There are also several insurance entries, which have always been a highly competitive space in the US. Searching for car insurance gives you 4 ads before giving you any actual search results.

Keep in mind that these searches are only for a week and the entire year’s worth of queries would have looked quite different, though it is unlikely that we will ever get to see that.

Source: Pro Pakistani

Mobilink Bank Witnesses a 38% Growth in Lending to MSMEs

Mobilink Bank exhibited significant growth in the first three quarters of 2023, as evidenced by the Q3 financial statements. This milestone highlights the Bank’s dedication to supporting Micro, Small, and Medium-Sized Enterprises (MSMEs), supported by substantial deposit growth and improvements on multiple indicators.

Mobilink Bank’s Q3 2023 growth trajectory exemplifies its commitment to embracing a holistic approach that goes beyond profitability, focusing on providing innovative, value-driven solutions tailored to foster economic well-being and prosperity for all while addressing the evolving needs of its borrowers.

Mobilink Bank is part of the VEON group, a global digital operator that provides converged connectivity and online services across seven countries. As part of its digital operator strategy, VEON is transforming people’s lives by creating opportunities for increased digital inclusion and by driving economic growth across countries that are home to more than 8% of the world’s population.

Mobilink Bank’s total revenue surged by 64% in Q3 2023, demonstrating its strong customer attraction and retention capabilities. During this period, the Bank’s Profit Before Tax (PBT) experienced a growth of 299% compared to 2022, solidifying its standing as a leading digital microfinance institution.

The Bank’s deposits experienced a 16% increase from FY 2022, reaching PKR 75 billion. The core banking deposits grew by 12% compared to the previous year, reaching PKR 23 billion, while JazzCash segment deposits powered by Mobilink bank increased by 19%, reaching PKR 52 billion in Q3 2023.

Mobilink Bank is dedicated to promoting MSME financing across Pakistan. Over PKR 11 billion, 22% of its Gross Loan Portfolio (GLP), is extended to 69,470+ female customers nationwide, championing gender equality and stimulating economic activity. Additionally, the Bank disbursed PKR 26 billion in loans to MSMEs, with a significant growth of 38% from 2022.

Applauding the Bank’s strong performance, Ghazanfar Azzam, President and CEO Mobilink Bank, and Taimoor Farid, Acting Chief Financial Officer and Director Strategy Mobilink Bank, expressed their satisfaction with the robust financial results in Q3 2023. They highlighted the remarkable growth in deposits, emphasizing that this success reflects the trust of our valued customers. Furthermore, they underscored their commitment to fostering future economic growth through continued financial support and tailored solutions for the vital MSME sector, emphasizing the significance of the increased engagement with MSME depositors.

Despite the uncertainties stemming from high inflation, the Bank expanded across all its verticals. In Q3 2023, the average ticket size increased by 23% to PKR 275K, resulting in a 64% revenue growth, reaching PKR 27.8 billion, compared to Q3 2022.

The core banking revenue experienced an upswing of 54%, reaching PKR 13.8 billion, while branchless banking revenue increased by 76%, amounting to PKR 13.9 billion during the corresponding period.

Mobilink Bank’s success, with a 17.3% Return on Equity (ROE) and a 1.2% Return on Assets (ROA), highlights its effective and forward-thinking strategy. These returns showcase the Bank’s profitability and dedication to supporting MSMEs. Moving forward, the Bank remains committed to maintaining its high level of performance while providing dedicated support to empower its valued MSME borrowers, particularly women, for sustainable development.

Source: Pro Pakistani