Inotiv Business Summary

Inotiv, Inc. (NOTV) operates as a specialized contract research organization (CRO) providing integrated nonclinical and analytical drug discovery and development services. The company generates revenue through two primary segments: Discovery and Safety Assessment (DSA), which earns service-based fees for toxicology, pharmacology, and bioanalytical services; and Research Models and Services (RMS), which generates product-based revenue from the sale of research models, specialized diets, and bedding. As of early 2026, Inotiv has focused on optimizing its site footprint and expanding its "New Approach Methodologies" (NAMs) to mitigate volatility in the non-human primate (NHP) market. The company competes directly with global CRO giants such as Charles River Laboratories, Labcorp (Fortrea), and Altasciences, positioning itself as a high-touch, specialized alternative that bridges the gap between early-stage discovery and regulated safety assessment for mid-tier biopharma clients. Leadership is spearheaded by President and CEO Robert W. Leasure Jr., who joined in 2019 with a 30-year pedigree in corporate turnarounds and M&A, previously serving as managing partner at LS Associates. He is supported by EVP and CFO Beth A. Taylor, who brings extensive life sciences financial experience from her tenure at Endocyte and other healthcare firms, and Chief Strategy Officer Dr. John Sagartz, a veteran toxicologic pathologist and founder of Seventh Wave Laboratories. The company’s strategic direction is further influenced by a board that includes David Landman, a Senior Adviser at Perella Weinberg Partners, and Michael J. Harrington, former General Counsel at Eli Lilly. Notable institutional backing includes positions from Balyasny Asset Management and The Vanguard Group, reflecting a shareholder base focused on the company’s ongoing transition toward a higher-margin, service-heavy revenue mix.