Inotiv Applauded by Frost & Sullivan as Key Competitor in the Bio-analytical Testing Services Market
Inotiv offers fit-for-purpose drug testing approaches and quality-by-design methodologies to facilitate sample analysis accuracy, boosting clients' success rates.
SAN ANTONIO, April 11, 2023 /PRNewswire/ -- Recently, Frost & Sullivan assessed the bio-analytical testing services industry and, based on its findings, recognized Inotiv, Inc. (Nasdaq: NOTV) with the 2022 North American Customer Value Leadership Award. Inotiv addresses the needs of bio-analytical, non-clinical, and clinical research drug and device developers by operating in contract research services and research product business segments. It offers a range of experienced scientists and state of the art facilities to provide highly competitive and comprehensive R&D services. The company stands out for its top-notch bio-analytical capabilities, expansive portfolio and synergetic acquisitions. Overall, it strives to deliver outstanding client service with consultative and scientifically-driven methods.
Inotiv's drug discovery and development approach goes beyond its laboratory expertise, with client value being a strategic imperative. Inotiv supports biotech firms through its unique, early-stage, fit-for-purpose, and fully GLP (Good Laboratory Practices)-validated methods. It builds its services in close association with different stakeholders to evolve alongside market trends and respond suitably to clients' needs. Inotiv's scientists understand the relationship between a molecule's target, the therapeutic modality, and its effect, resulting in unparalleled service that supports the development of new biologic therapies. Its new biotherapeutics Center of Excellence addresses biologics innovations while also supporting biomarkers tied to small molecules and biotherapeutics.
Aarti Chitale, a senior industry analyst in the healthcare sector at Frost & Sullivan, noted, "Inotiv's essential value proposition relates to the absence of intermediaries: clients deal with resources directly assigned to their projects. This approach skips tedious steps, eases information flow, and positions it as a partner of choice."
Inotiv's offerings cover the entire drug discovery and development process, assisting with regulatory requirements. It offers in vitro and in vivo drug metabolism, biomarker identification, toxicology, quantification, and pharmacokinetic modeling. The company creates fit-for-purpose assays using in vitro molecular and cell-based tools, addressing specific drug action mechanisms. The company provides method development and validation, in vitro and in vivo sample analysis, method transfer, drug-drug interactions, and biomarker testing/validation, among other services. It empowers clients with high-quality scientific guidance, client experience, and customized services with client-focused strategies.
"Inotiv targets the early to late phase drug testing space with strategic acquisitions that increase its client value proposition and boost revenues. An overall client-first approach offers immense value to existing and new clients," added Manuel Albornoz, a best practices research analyst at Frost & Sullivan. The company is entering a rapid growth phase driven by its top-notch services, intelligent strategies, and client-centric processes to enhance its market positioning."
Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The award recognizes the company's unique focus on augmenting the value that its customers receive, beyond simply good customer service, leading to improved customer retention and customer base expansion.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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About Inotiv
Inotiv, Inc. is a leading contract research organization dedicated to providing nonclinical and analytical drug discovery and development services and research models and related products and services. The Company's products and services focus on bringing new drugs and medical devices through the discovery and preclinical phases of development, all while increasing efficiency, improving data, and reducing the cost of taking new drugs to market. Inotiv is committed to supporting discovery and development objectives as well as helping researchers realize the full potential of their critical R&D projects, all while working together to build a healthier and safer world. Further information about Inotiv can be found here: https://www.inotivco.com/.
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