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Veeva (VEEV) Enhances Clinical Trial Management via Vault CTMS
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Veeva Systems Inc. (VEEV - Free Report) recently announced that with the growing need for greater efficiency in clinical studies, more than 100 organizations are simplifying trial management and monitoring via the robust adoption of Veeva Vault clinical trial management (“CTMS”). Notably, unified applications from Veeva are expected to aid companies and organizations across the globe to modernize their clinical systems’ landscape.
The growing adoption of Veeva’s unified applications is expected to provide a significant boost to the company’s Veeva Development Cloud products business. For investors’ note, the Veeva Development Cloud product suite is a component of the broader unified suite of cloud-based enterprise content and data management applications — Veeva Vault.
Significance of the Application
The Veeva Vault CTMS is expected to increase visibility across trials and speed up study execution. Further, customers will be able to simplify costly and time-consuming processes while ensuring compliance.
Per an expert associated with the application, Veeva Vault CTMS meets the organization’s requirement of a scalable clinical system that will support multiple operating models and complex study designs. The Veeva Vault CTMS is well suited to deliver the flexibility to meet its unique business requirements and effortlessly share information with Veeva Vault eTMF (electronic trial master file). This is expected to significantly reduce data entry and simplify document filing.
Per management, the momentum of the Veeva Vault CTMS is likely to continue on the back of its ability to scale with growing companies and improve trial oversight for sponsors and contract research organizations.
Industry Prospects
Per a report by Markets And Markets, the global CTMS market is projected to reach $1,590 million by 2025 from $801 million in 2020 at a CAGR of 14.7%. Factors like increasing number of clinical trials and growing technology adoption are expected to drive the market.
Given the market potential, growing adoption of the company’s CTMS application is expected to provide a significant boost to its global business.
Recent Developments
Of late, Veeva has witnessed a few notable developments across its business.
The company, this month, announced that some major global pharmaceutical companies have partnered with it to standardize on Veeva Vault QMS for greater efficiency and better visibility across the enterprise. In the same month, Veeva announced that Bluepharma, a global contract development and manufacturing organization (“CDMO”), has adopted Veeva Vault Quality Suite for the purpose of quality management across its 20 entities. The CDMO currently uses Veeva Vault QMS and Veeva Vault QualityDocs to bring together quality content and processes for greater efficiency and control.
Further, in May, Veeva announced new modular content capabilities in Veeva Vault PromoMats to aid life sciences marketers speed up content creation, review and distribution across channels. New enhancements to the commercial content platform include features and connectors that enable brands to quickly deliver compliant content at scale.
Price Performance
Shares of the company have gained 27.7% in the past year compared with the industry’s 36.1% growth and the S&P 500's 43.2% rise.
The Cooper Companies’ long-term earnings growth rate is estimated at 11%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
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 (VEEV) Enhances Clinical Trial Management via Vault CTMS
Veeva Systems Inc. (VEEV - Free Report) recently announced that with the growing need for greater efficiency in clinical studies, more than 100 organizations are simplifying trial management and monitoring via the robust adoption of Veeva Vault clinical trial management (“CTMS”). Notably, unified applications from Veeva are expected to aid companies and organizations across the globe to modernize their clinical systems’ landscape.
The growing adoption of Veeva’s unified applications is expected to provide a significant boost to the company’s Veeva Development Cloud products business. For investors’ note, the Veeva Development Cloud product suite is a component of the broader unified suite of cloud-based enterprise content and data management applications — Veeva Vault.
Significance of the Application
The Veeva Vault CTMS is expected to increase visibility across trials and speed up study execution. Further, customers will be able to simplify costly and time-consuming processes while ensuring compliance.
Per an expert associated with the application, Veeva Vault CTMS meets the organization’s requirement of a scalable clinical system that will support multiple operating models and complex study designs. The Veeva Vault CTMS is well suited to deliver the flexibility to meet its unique business requirements and effortlessly share information with Veeva Vault eTMF (electronic trial master file). This is expected to significantly reduce data entry and simplify document filing.
Per management, the momentum of the Veeva Vault CTMS is likely to continue on the back of its ability to scale with growing companies and improve trial oversight for sponsors and contract research organizations.
Industry Prospects
Per a report by Markets And Markets, the global CTMS market is projected to reach $1,590 million by 2025 from $801 million in 2020 at a CAGR of 14.7%. Factors like increasing number of clinical trials and growing technology adoption are expected to drive the market.
Given the market potential, growing adoption of the company’s CTMS application is expected to provide a significant boost to its global business.
Recent Developments
Of late, Veeva has witnessed a few notable developments across its business.
The company, this month, announced that some major global pharmaceutical companies have partnered with it to standardize on Veeva Vault QMS for greater efficiency and better visibility across the enterprise. In the same month, Veeva announced that Bluepharma, a global contract development and manufacturing organization (“CDMO”), has adopted Veeva Vault Quality Suite for the purpose of quality management across its 20 entities. The CDMO currently uses Veeva Vault QMS and Veeva Vault QualityDocs to bring together quality content and processes for greater efficiency and control.
Further, in May, Veeva announced new modular content capabilities in Veeva Vault PromoMats to aid life sciences marketers speed up content creation, review and distribution across channels. New enhancements to the commercial content platform include features and connectors that enable brands to quickly deliver compliant content at scale.
Price Performance
Shares of the company have gained 27.7% in the past year compared with the industry’s 36.1% growth and the S&P 500's 43.2% rise.
Zacks Rank & Other Key Picks
Currently, Veeva carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks from the broader medical space are The Cooper Companies, Inc. (COO - Free Report) , DaVita Inc. (DVA - Free Report) and Amedisys, Inc. (AMED - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Cooper Companies’ long-term earnings growth rate is estimated at 11%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
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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