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Veeva (VEEV) Partners With Impel, Boosts Cloud-Based Offerings (Revised)

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Veeva Systems, Inc. (VEEV - Free Report) recently inked a deal with Impel NeuroPharma to accelerate pre-launch preparation for Impel’s migraine treatment INP104, which has been accepted for review by the FDA and will be marketed under the trade name TRUDHESA once approved.

Impel will leverage Veeva's software, data, and consulting to accelerate pre-launch planning and digital-first commercial execution for migraine treatment.

For investors’ note, Impel NeuroPharma is a Seattle-based biopharmaceutical company dedicated on developing transformative therapies for people living with central nervous system (CNS) and other disorders with high unmet medical needs.

With this latest development, Veeva is likely to strengthen its portfolio of cloud-based offerings.

TRUDHESA at a Glance

TRUDHESA has been developed by Impel with the goal to be a transformative new therapy for the acute treatment of migraine headaches. In January, TRUDHESA was accepted by the FDA for review. Impel is expecting to gain approval by the end of the year.   

More About the Collaboration

Veeva is a proven technology provider and the ideal partner to help Impel meet aggressive commercial timelines. Impel will leverage Veeva Commercial Cloud to have a complete commercial suite of data, software, and consulting services to drive strategy and accelerate field engagement.

Veeva will help Impel accelerate market engagement by deploying Veeva CRM to act as foundation for in-person and digital engagement with physicians and Veeva Data Cloud for longitudinal patient data to effectively segment right patients groups. Additionally, Veeva’s business consulting will help design and implement customer-centric strategies that will allow Impel to increase the value of targeted interactions with healthcare professionals.

Backed by an advanced technology foundation, Impel accelerates the industry’s move to digitalization and enhance the delivery of novel medicines to patients, improving overall patient experience.

Notable Developments

Veeva continues to boost cloud-based offerings by deploying its expertise to several businesses.

In December 2020, Veeva announced that Integra LifeSciences Holding Corporation (IART - Free Report) has picked Veeva Vault CDMS to provide electronic data capture, coding, data cleaning, and reporting for future clinical trials. With Vault CDMS, Integra LifeSciences can shorten database build times for their studies.

During the same month, Veeva announced that Samsung Biologics has deployed Veeva Vault Quality Management Software to simplify quality management on a singular cloud platform.  As part of the Veeva Vault Quality Suite, Samsung Biologics is driving quality process and content management for enhanced visibility across its global processes.

Further, the company announced that Simbec-Orion is adopting Veeva Vault clinical trial management system (CTMS) and Veeva Vault (electronic trial master file) (eTMF) to digitize end-to-end clinical trial data, workflows and documents.

Industry Prospects

Per a report by Grand View Research, the global cloud computing market size was valued at $266.0 billion in 2019 and is expected to see a CAGR of 14.9% by 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.

Zacks Rank and Key Picks

Currently, Veeva carries a Zacks Rank #4 (Sell).

Some better-ranked stocks from the same medical space are Calix, Inc. (CALX - Free Report) and Castlight Health, Inc. (CSLT - Free Report) , both carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.

Calix has projected long-term earnings growth rate at 39%.

Castlight Health has projected long-term earnings growth rate at 10%.

(We are reissuing this article to correct a mistake. The original article, issued on February 12, 2021, should no longer be relied upon.)