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) New Launch to Streamline Clinical Data
Read MoreHide Full Article
Veeva Systems Inc. (VEEV - Free Report) recently announced the availability of a novel solution for aggregating, cleaning and transforming clinical data, Veeva CDB (clinical database). The new clinical data application puts together study data from various sources to provide complete and concurrent clinical trial data.
In the same press release, Veeva Systems also announced the Veeva CDB Data Provider Program. This will likely bring sponsors, contract research organizations and data providers together on a single clinical data management platform to enable the delivery of quality data faster and more efficiently.
The latest launch is expected to provide a significant boost to the Veeva Vault Clinical Data Management Suite of the Veeva Vault Clinical Suite under the Veeva Development Cloud solutions. Notably, the Veeva Development Cloud solutions belong to the broader Life Sciences segment and will likely improve patient experience and help retain patients in trials.
Significance of the Launch
Veeva CDB is expected to advance the way clinical data management teams work by providing a platform for ingestion and reviewing all study data sources. At the same time, it will likely reduce the manual processes, integration projects, complexity and costs associated with making clinical trial data usable.
Veeva Systems believes that with Veeva CDB sponsors and data providers can view and resolve data queries centrally to minimize quality risks, provide better data visibility and speed up trial execution. Veeva CDB's automated ingestion engine brings together data from a wide array of external sources, including EDC, ePRO and lab data, among others. Ingestion from Veeva Vault EDC will be available from Oct 18 and support for other third-party EDC systems, including Medidata Rave, has been planned for 2023.
Per management, Veeva CDB has delivered analysis-ready data at a faster rate for more informed decisions and streamlined execution across all trial partners in various trials conducted to date. Management expects that the effort put into Veeva CDB over the past couple of years will likely maintain its momentum.
Industry Prospects
Per a report by Marketsandresearch.biz, the global clinical data management system market was estimated to be $1574.8 million in 2021 and is projected to reach $4294.1 million by 2028 at a CAGR of 15.4%. Factors like a surge in clinical trials, a flourishing healthcare industry, and increasing research collaborations and partnerships are expected to drive the market.
Given the market potential, the latest addition to its Veeva Vault Clinical Suite is expected to strengthen Veeva Systems’ position in the global cloud application space.
Recent Developments
This month, Veeva Systems announced the availability of a key advancement in patient-centric digital trials, Veeva ePRO. The application is expected to simplify the collection and exchange of patient-reported outcomes in digital clinical trials.
The same month, Veeva Systems announced two new Veeva Link applications — Link SiteBase and Link TrialBase — to aid clinical teams in improving site selection and optimizing trial design.
Last month, Veeva Systems announced two new Veeva Crossix solutions — Veeva CrossixHCP Trigger Data and Veeva Crossix Omnichannel Boost. These latest products are aimed at aiding life sciences companies in executing and optimizing omnichannel marketing campaigns.
Price Performance
Shares of the company have lost 51.9% in the past year compared with the industry’s 65.5% decline and the S&P 500's 19.8% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Veeva Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.
AMN Healthcare has gained 11.4% against the industry’s 40.4% decline in the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.5% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has gained 27% against the industry’s 33.8% decline over the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.
McKesson has gained 74.1% against the industry’s 15.7% decline over the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Veeva Systems' (VEEV) New Launch to Streamline Clinical Data
Veeva Systems Inc. (VEEV - Free Report) recently announced the availability of a novel solution for aggregating, cleaning and transforming clinical data, Veeva CDB (clinical database). The new clinical data application puts together study data from various sources to provide complete and concurrent clinical trial data.
In the same press release, Veeva Systems also announced the Veeva CDB Data Provider Program. This will likely bring sponsors, contract research organizations and data providers together on a single clinical data management platform to enable the delivery of quality data faster and more efficiently.
The latest launch is expected to provide a significant boost to the Veeva Vault Clinical Data Management Suite of the Veeva Vault Clinical Suite under the Veeva Development Cloud solutions. Notably, the Veeva Development Cloud solutions belong to the broader Life Sciences segment and will likely improve patient experience and help retain patients in trials.
Significance of the Launch
Veeva CDB is expected to advance the way clinical data management teams work by providing a platform for ingestion and reviewing all study data sources. At the same time, it will likely reduce the manual processes, integration projects, complexity and costs associated with making clinical trial data usable.
Veeva Systems believes that with Veeva CDB sponsors and data providers can view and resolve data queries centrally to minimize quality risks, provide better data visibility and speed up trial execution. Veeva CDB's automated ingestion engine brings together data from a wide array of external sources, including EDC, ePRO and lab data, among others. Ingestion from Veeva Vault EDC will be available from Oct 18 and support for other third-party EDC systems, including Medidata Rave, has been planned for 2023.
Per management, Veeva CDB has delivered analysis-ready data at a faster rate for more informed decisions and streamlined execution across all trial partners in various trials conducted to date. Management expects that the effort put into Veeva CDB over the past couple of years will likely maintain its momentum.
Industry Prospects
Per a report by Marketsandresearch.biz, the global clinical data management system market was estimated to be $1574.8 million in 2021 and is projected to reach $4294.1 million by 2028 at a CAGR of 15.4%. Factors like a surge in clinical trials, a flourishing healthcare industry, and increasing research collaborations and partnerships are expected to drive the market.
Given the market potential, the latest addition to its Veeva Vault Clinical Suite is expected to strengthen Veeva Systems’ position in the global cloud application space.
Recent Developments
This month, Veeva Systems announced the availability of a key advancement in patient-centric digital trials, Veeva ePRO. The application is expected to simplify the collection and exchange of patient-reported outcomes in digital clinical trials.
The same month, Veeva Systems announced two new Veeva Link applications — Link SiteBase and Link TrialBase — to aid clinical teams in improving site selection and optimizing trial design.
Last month, Veeva Systems announced two new Veeva Crossix solutions — Veeva CrossixHCP Trigger Data and Veeva Crossix Omnichannel Boost. These latest products are aimed at aiding life sciences companies in executing and optimizing omnichannel marketing campaigns.
Price Performance
Shares of the company have lost 51.9% in the past year compared with the industry’s 65.5% decline and the S&P 500's 19.8% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Veeva Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 3.2%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 15.7%.
You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 11.4% against the industry’s 40.4% decline in the past year.
ShockWave Medical, sporting a Zacks Rank #1 at present, has an estimated growth rate of 33.5% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 180.1%.
ShockWave Medical has gained 27% against the industry’s 33.8% decline over the past year.
McKesson, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, the average beat being 13%.
McKesson has gained 74.1% against the industry’s 15.7% decline over the past year.