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Veeva Systems (VEEV) Boosts Portfolio of Cloud-Based Offerings
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Veeva Systems, Inc. (VEEV - Free Report) recently announced that its Veeva Vault PromoMats is being adopted by Bristol Myers Squibb (BMY - Free Report) , a leading biopharmaceutical company. This will help the latter in delivery of fast, compliant content throughout all digital channels to its customers.
Being an advanced application, Veeva Vault PromoMats unifies digital asset management with medical, legal, and regulatory review to enhance global regeneration of promotional materials, while being compliant with respect to content creation through distribution.
This development is likely to aid Veeva Systems in strengthening its portfolio of cloud-based offerings for the life sciences industry.
More on the News
On the back of Vault PromoMats, Veeva Systems has been successfully helping life sciences to get ahead of changing regulations, which includes the need for organizations to submit promotional materials electronically with the latest Electronic Common Technical Document (eCTD) requirements by June 2021.
Moreover, the adoption of Vault PromoMats is testament to the success achieved by Bristol Myers when it comes to other Veeva Commercial Cloud applications.
Apart from the sustained successful partnership with Bristol Myers, Veeva Systems remains focused with respect to product excellence, rapid innovation, and helping leading life sciences companies to be compliant, while offering a more effective experience for their customers.
Market Prospects
Per a report by Grand View Research, the global cloud computing market size was valued at $266 billion in 2019 and is anticipated to see a CAGR of 14.9% between the period of 2020 and 2027. Growing digital transformation among industries, increase in penetration of Internet and mobile devices globally, and consumption of big data are the primary factors driving this market’s growth. Hence, this development is well-timed for Veeva Systems.
Recent Developments
In October 2020, Veeva Systems announced the development of Veeva Clinical Network solution-based first two applications — Veeva Site Connect and Veeva eConsent. Notably, Veeva Clinical Network is claimed by the company to be the industry’s only solution that connects sponsors, clinical research sites, and patients for paperless, patient-centric trials.
In September, the company announced that Switzerland-based Idorsia Pharmaceuticals has chosen Veeva Commercial Could to enable its digital field force in the United States, Japan and countries across Europe. Veeva Commercial Cloud will help Idorsia to build the foundation for digital excellence through multichannel engagement, data, content, and analytics.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 88.9% compared with the industry’s rally of 77.5% on a year-to-date basis.
Cardinal Health has a projected long-term earnings growth rate of 5.4%.
Align Technology has an estimated long-term earnings growth rate of 18.3%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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Veeva Systems (VEEV) Boosts Portfolio of Cloud-Based Offerings
Veeva Systems, Inc. (VEEV - Free Report) recently announced that its Veeva Vault PromoMats is being adopted by Bristol Myers Squibb (BMY - Free Report) , a leading biopharmaceutical company. This will help the latter in delivery of fast, compliant content throughout all digital channels to its customers.
Being an advanced application, Veeva Vault PromoMats unifies digital asset management with medical, legal, and regulatory review to enhance global regeneration of promotional materials, while being compliant with respect to content creation through distribution.
This development is likely to aid Veeva Systems in strengthening its portfolio of cloud-based offerings for the life sciences industry.
More on the News
On the back of Vault PromoMats, Veeva Systems has been successfully helping life sciences to get ahead of changing regulations, which includes the need for organizations to submit promotional materials electronically with the latest Electronic Common Technical Document (eCTD) requirements by June 2021.
Moreover, the adoption of Vault PromoMats is testament to the success achieved by Bristol Myers when it comes to other Veeva Commercial Cloud applications.
Apart from the sustained successful partnership with Bristol Myers, Veeva Systems remains focused with respect to product excellence, rapid innovation, and helping leading life sciences companies to be compliant, while offering a more effective experience for their customers.
Market Prospects
Per a report by Grand View Research, the global cloud computing market size was valued at $266 billion in 2019 and is anticipated to see a CAGR of 14.9% between the period of 2020 and 2027. Growing digital transformation among industries, increase in penetration of Internet and mobile devices globally, and consumption of big data are the primary factors driving this market’s growth. Hence, this development is well-timed for Veeva Systems.
Recent Developments
In October 2020, Veeva Systems announced the development of Veeva Clinical Network solution-based first two applications — Veeva Site Connect and Veeva eConsent. Notably, Veeva Clinical Network is claimed by the company to be the industry’s only solution that connects sponsors, clinical research sites, and patients for paperless, patient-centric trials.
In September, the company announced that Switzerland-based Idorsia Pharmaceuticals has chosen Veeva Commercial Could to enable its digital field force in the United States, Japan and countries across Europe. Veeva Commercial Cloud will help Idorsia to build the foundation for digital excellence through multichannel engagement, data, content, and analytics.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 88.9% compared with the industry’s rally of 77.5% on a year-to-date basis.
Stocks to Consider
Some better-ranked stocks from the broader medical space include Cardinal Health Inc. (CAH - Free Report) and Align Technology, Inc. (ALGN - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cardinal Health has a projected long-term earnings growth rate of 5.4%.
Align Technology has an estimated long-term earnings growth rate of 18.3%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
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