This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
IQVIA Holdings is one of the world's largest contract research organizations (CROs) and conducts preclinical animal testing as a core part of its business. IQVIA provides non-regulated preclinical development solutions including in vivo animal models (BSL-2 challenge models). The company is listed by Cruelty Free Investing as conducting pre-clinical studies on animals. In January 2024, IQVIA launched "IQVIA Preclinical" as a dedicated preclinical services platform, and in late 2024 rebranded Q2 to IQVIA Laboratories, further consolidating its laboratory and preclinical services. IQVIA is also acquiring discovery services assets from Charles River Laboratories. With over 85,000 employees across 100+ countries, IQVIA's preclinical animal testing is a deliberate, material business line. Previous exclusion records for this ticker were retired for data quality; this is a fresh assessment based on current evidence confirming the company's ongoing animal testing operations.
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A digest of changes to our exclusion list — new additions, removals, and the evidence behind them. We review the list continuously as new evidence surfaces.
Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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