We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Veeva Systems (VEEV) Inks Deal to Advance Clinical Trials
Read MoreHide Full Article
Veeva Systems Inc. (VEEV - Free Report) recently inked a deal with Parexel to advance clinical trials via technology and process innovation. This strategic collaboration brings together the best of each company’s expertise throughout thousands of studies globally.
Notably, Parexel is a leading clinical research organization that offers services aiding life sciences and biopharmaceutical clients everywhere in transforming scientific discoveries into new treatments.
With this collaboration, Veeva Systems is not only lending support to industry collaborations in life sciences, but also boosting its product portfolio.
More on the Collaboration
Per the deal, Parexel is standardizing on Veeva Systems’ portfolio of clinical operations applications such as Veeva Vault (electronic trial master file) and Veeva Vault clinical trial management system, to name a few, for simplifying operations. In fact, Parexel will provide customers with Veeva Vault clinical data management suite as a standard offering.
On the back of insights from sponsors, sites and patients, the partnership will enable the companies to consistently enhance Veeva Systems’ cloud technology and Parexel’s processes with respect to delivery of clinical trials.
The collaboration will enable Veeva Systems to accelerate innovations in clinical research and boost customer success.
Market Prospects
Per a report by Grand View Research, the global clinical trials market is projected to reach $69.5 billion by 2028, witnessing a CAGR of 5.7% during the forecast period (2021-2028). Hence, this collaboration comes at an ideal time for Veeva Systems.
Recent Developments
In March, Veeva Systems announced a major development for Veeva eConsent, a MyVeeva for Patients application developed on Veeva Clinical Network. The company had its first patient complete an electronic consent for an early phase clinical trial at the Crofoot Research Center.
In February, the company 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.
Price Performance
Shares of this Zacks Rank #1 (Strong Buy) company have lost 0.6% on a year-to-date basis compared with the industry’s 6.1% decline.
AmerisourceBergen’s long-term earnings growth rate is expected at 11.4%.
DENTSPLY SIRONA’s long-term earnings growth rate is estimated at 20%.
Cantel Medical’s long-term earnings growth rate is estimated at 19%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Image: Bigstock
Veeva Systems (VEEV) Inks Deal to Advance Clinical Trials
Veeva Systems Inc. (VEEV - Free Report) recently inked a deal with Parexel to advance clinical trials via technology and process innovation. This strategic collaboration brings together the best of each company’s expertise throughout thousands of studies globally.
Notably, Parexel is a leading clinical research organization that offers services aiding life sciences and biopharmaceutical clients everywhere in transforming scientific discoveries into new treatments.
With this collaboration, Veeva Systems is not only lending support to industry collaborations in life sciences, but also boosting its product portfolio.
More on the Collaboration
Per the deal, Parexel is standardizing on Veeva Systems’ portfolio of clinical operations applications such as Veeva Vault (electronic trial master file) and Veeva Vault clinical trial management system, to name a few, for simplifying operations. In fact, Parexel will provide customers with Veeva Vault clinical data management suite as a standard offering.
On the back of insights from sponsors, sites and patients, the partnership will enable the companies to consistently enhance Veeva Systems’ cloud technology and Parexel’s processes with respect to delivery of clinical trials.
The collaboration will enable Veeva Systems to accelerate innovations in clinical research and boost customer success.
Market Prospects
Per a report by Grand View Research, the global clinical trials market is projected to reach $69.5 billion by 2028, witnessing a CAGR of 5.7% during the forecast period (2021-2028). Hence, this collaboration comes at an ideal time for Veeva Systems.
Recent Developments
In March, Veeva Systems announced a major development for Veeva eConsent, a MyVeeva for Patients application developed on Veeva Clinical Network. The company had its first patient complete an electronic consent for an early phase clinical trial at the Crofoot Research Center.
In February, the company 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.
Price Performance
Shares of this Zacks Rank #1 (Strong Buy) company have lost 0.6% on a year-to-date basis compared with the industry’s 6.1% decline.
Other Stocks to Consider
Other top-ranked stocks from the broader medical space include AmerisourceBergen Corporation , DENTSPLY SIRONA Inc. (XRAY - Free Report) and Cantel Medical Corp. , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AmerisourceBergen’s long-term earnings growth rate is expected at 11.4%.
DENTSPLY SIRONA’s long-term earnings growth rate is estimated at 20%.
Cantel Medical’s long-term earnings growth rate is estimated at 19%.
+1,500% Growth: One of 2021’s Most Exciting Investment Opportunities
In addition to the stocks you read about above, would you like to see Zacks’ top picks to capitalize on the Internet of Things (IoT)? It is one of the fastest-growing technologies in history, with an estimated 77 billion devices to be connected by 2025. That works out to 127 new devices per second.
Zacks has released a special report to help you capitalize on the Internet of Things’s exponential growth. It reveals 4 under-the-radar stocks that could be some of the most profitable holdings in your portfolio in 2021 and beyond.
Click here to download this report FREE >>