INC Research Holdings, Inc. is a CRO (contract research organization) providing outsourced drug development to biopharma companies. They reported strong results in the quarter both in organic growth and margin expansion. We doubled our position during the quarter when the company did a secondary offering, and the stock has moved up since. We remain excited about the growth prospects for all three of our holdings in this sub-sector.
From Baron Funds’ second quarter 2015 commentary.
