Veeva Systems, Inc ( VEEV Quick Quote VEEV - Free Report) recently announced that Samsung Biologics has deployed Veeva Vault Quality Management Software (QMS) to simplify its quality management on a singular cloud platform. Notably, Samsung Biologics is a leading global contract development and manufacturing organization (CDMO).
This is likely to expand the reach of Veeva Systems’ portfolio of cloud-based offerings within the life sciences industry.
More on the Development
The integration of Vault QMS builds upon the company’s success with Veeva Vault QualityDocs for more proficient document control and management. As part of the Veeva Vault Quality Suite, Samsung Biologics is driving quality process and content management for enhanced visibility across its global processes.
Backed by an advanced technology foundation, the company will be able to offer value-added services that help its customers stay ahead of the evolving business and regulatory requirements.
Vault QMS is an advanced cloud application that combines quality management seamlessly with Samsung Biologics’ internal organization, pharmaceutical and biotech customers, contract manufacturers and suppliers into one quality process. This enables Samsung Biologics better merge its global processes for improved visibility and compliance throughout the product lifecycle.
In December 2020, Veeva Systems announced that the contract research organization (CRO) GenesisCare Clinical CRO implemented Veeva Vault (electronic trial master file) (eTMF), Veeva Vault clinical trial management system (CTMS) and Veeva Vault Payments to drive efficiency in trial processes across the world.Veeva clinical applications will aid GenesisCare Clinical CRO to streamline its trials and expedite execution of the same as the latter manages an increasing number of studies.
Also, the company recently announced that Simbec-Orion is adopting Veeva Vault CTMS and Veeva Vault eTMF to digitize end-to-end clinical trial data, workflows and documents. Notably, Simbec-Orion is a full-service CRO, specializing in the fields of clinical pharmacology, oncology and rare diseases. Veeva clinical solutions will offer Simbec-Orion real-time insights into studies in phases to accelerate trial execution.
Per a Grand View Research
report, the global cloud computing market was valued at $266 billion in 2019 and is anticipated to see a CAGR of 14.9% between 2020 and 2027. Hence, this development is well-timed for Veeva Systems. Price Performance
Over the past year, shares of this currently Zacks Rank #3 (Hold) company have soared 79.3% compared with the
industry’s rally of 103.9%. Key Picks
Some better-ranked stocks from the broader medical space are
Align Technology ( ALGN Quick Quote ALGN - Free Report) , DaVita Inc ( DVA Quick Quote DVA - Free Report) and Thermo Fisher Scientific ( TMO Quick Quote TMO - Free Report) , each presently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology has a projected long-term earnings growth rate of 18.3%.
DaVita has a projected long-term earnings growth rate of 18.3%.
Thermo Fisher has an estimated long-term earnings growth rate of 18%.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
Download Marijuana Moneymakers FREE >>