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Veeva Systems' (VEEV) Cloud Offerings Aid Drug Development
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Veeva Systems, Inc. (VEEV - Free Report) recently announced that its Veeva Development Cloud applications are being adopted by a rising number of life sciences companies. This is being done to simplify drug development in an industry-wide shift.
Notably, above 650 companies presently use Veeva Development Cloud applications and more than 250 are lending support to numerous Veeva Vault applications throughout functional areas to enable and connect drug development and manufacturing teams.
It is noteworthy to mention that Veeva Development Cloud helps to bring together portfolios of unified applications for clinical, regulatory, quality, and safety on a single cloud platform. This, in turn, aids in eliminating organizational siloes.
The growing adoption of Veeva’s unified applications is expected to provide a significant boost to the company’s Veeva Development Cloud products business.
More on the News
Per management, Veeva Systems is committed toward introducing innovations to market that can aid the industry to speed up drug development. In fact, Veeva Development Cloud is helping customers to boost partnership across teams and accelerate the delivery of treatments to patients. Additionally, Veeva Development Cloud is driving customer success.
For instance, Vault Connections in Veeva Development Cloud helps in facilitating cross-functional business processes throughout the product lifecycle.
To mention a few more examples, above 350 companies are advancing trial execution with Vault Clinical applications, while more than 350 are unifying quality management with Vault Quality.
Market 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.
Recent Developments
This month, Veeva Systems 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 Systems are expected to aid companies and organizations globally to modernize their clinical systems’ landscape.
Also, this month the company announced that some major global pharmaceutical companies have partnered with it to standardize Veeva Vault QMS for greater efficiency and better visibility across the enterprise.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have lost 4.4% on a year-to-date basis compared with the industry’s decline of 15.5%.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
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Veeva Systems' (VEEV) Cloud Offerings Aid Drug Development
Veeva Systems, Inc. (VEEV - Free Report) recently announced that its Veeva Development Cloud applications are being adopted by a rising number of life sciences companies. This is being done to simplify drug development in an industry-wide shift.
Notably, above 650 companies presently use Veeva Development Cloud applications and more than 250 are lending support to numerous Veeva Vault applications throughout functional areas to enable and connect drug development and manufacturing teams.
It is noteworthy to mention that Veeva Development Cloud helps to bring together portfolios of unified applications for clinical, regulatory, quality, and safety on a single cloud platform. This, in turn, aids in eliminating organizational siloes.
The growing adoption of Veeva’s unified applications is expected to provide a significant boost to the company’s Veeva Development Cloud products business.
More on the News
Per management, Veeva Systems is committed toward introducing innovations to market that can aid the industry to speed up drug development. In fact, Veeva Development Cloud is helping customers to boost partnership across teams and accelerate the delivery of treatments to patients. Additionally, Veeva Development Cloud is driving customer success.
For instance, Vault Connections in Veeva Development Cloud helps in facilitating cross-functional business processes throughout the product lifecycle.
To mention a few more examples, above 350 companies are advancing trial execution with Vault Clinical applications, while more than 350 are unifying quality management with Vault Quality.
Market 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.
Recent Developments
This month, Veeva Systems 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 Systems are expected to aid companies and organizations globally to modernize their clinical systems’ landscape.
Also, this month the company announced that some major global pharmaceutical companies have partnered with it to standardize Veeva Vault QMS for greater efficiency and better visibility across the enterprise.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have lost 4.4% on a year-to-date basis compared with the industry’s decline of 15.5%.
Stocks to Consider
Some better-ranked stocks from the broader medical space are HCA Healthcare, Inc. (HCA - Free Report) , DaVita Inc. (DVA - Free Report) and Amedisys, Inc. (AMED - Free Report) , each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Amedisys’ long-term earnings growth rate is estimated at 12%.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How to Profit from Trillions on Spending for Infrastructure >>