Back to top

Image: Bigstock

Veeva (VEEV) & Boehringer Partner to Boost Animal Healthcare

Read MoreHide Full Article

Veeva System (VEEV - Free Report) recently announced that Boehringer Ingelheim, a global animal health leader, has selected Veeva Vault Clinical and Veeva Vault RIM applications as its technology foundation for clinical and regulatory management of its health business unit.

Boehringer can expedite clinical execution for the development of new medications that improve animals' quality of life by implementing unified apps on a single platform.

Price Performance

For the past six months, VEEV’s shares have gained 15.4% compared with the industry’s rise of 34.2%. The S&P 500 increased 11.6% in the same time frame.

Zacks Investment Research
Image Source: Zacks Investment Research

More on the News

The Veeva Clinical Platform enhances clinical research by offering the most comprehensive and superior solution specifically designed to meet the requirements of research sites, patients, and trial sponsors.

The Vault RIM helps life sciences organizations to increase visibility, data quality, and agility by streamlining international regulatory processes into a single, cloud-based platform. Vault Clinical and Vault RIM are part of Veeva Development Cloud, the technology foundation for product development across clinical, regulatory, quality, and safety.

Veeva Vault Clinical and Veeva Vault RIM are likely to help Boehringer provide insights for data-driven decision making and enable it to achieve greater operational efficiency across functions.

Veeva Vault eTMF is likely to be used by Boehringer for real-time inspection preparedness, visibility, and control, while Veeva Vault CTMS will be used by the company's animal health business unit to manage and monitor trials.

For complex regulatory procedures, the business will additionally make use of Vault RIM apps, such as Veeva Vault Registrations, Veeva Vault Submissions, and Veeva Vault Submissions Archive. Enabling smooth information interchange and real-time data access can be achieved by connecting various applications on a single cloud platform.

This deal adds to the list of notable deals Veeva has been closing for the past few months, which is likely to boost its revenues.

Industry Prospects

Per a report by Grand View Research, the global life science analytics market size was valued at $9.0 billion in 2022 and is expected to grow at 7.6% from 2023 to 2030.

The life science industry is rapidly adopting analytics and relies on descriptive and reporting analysis in building databases as well as uses prescriptive and predictive analysis in estimating future trends and results, which is anticipated to propel market growth.

Notable Developments

In December 2023, the company announced that Recipharm will be using Veeva Vault QMS, Veeva Vault QualityDocs and Veeva Vault Training to streamline its quality operations. The latest adoption is likely to provide a significant boost to the Veeva Vault Quality Suite applications under the Veeva Development Cloud solutions.

In November 2023, the company announced that GSK would be one of the biopharma companies to migrate to Veeva Vault CRM. In the same month, the company announced that Bayer would also be among a few biopharma companies to move to Veeva Vault CRM worldwide while standardizing global customer data with Veeva OpenData.

Zacks Rank & Other Stocks to Consider

VEEV carries a Zacks Rank #2 (Buy) at present.

Some other top-ranked stocks to consider in the broader medical space are Universal Health Services (UHS - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Elevance Health, Inc (ELV - Free Report) .

Universal Health Services, carrying a Zacks Rank #2 at present, has an estimated growth rate of 4.4% for 2024. UHS’s earnings surpassed estimates in all the trailing four quarters, delivering an average surprise of 5.47%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

UHS’s shares have gained 1.9% in the past six months against the industry’s 5% decline.

Integer Holdings, presently carrying a Zacks Rank of 2, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.

Integer Holdings’ shares have rallied 43.5% in the past year against the industry’s 3.7% decline.

Elevance Health, carrying a Zacks Rank of 2, reported fourth-quarter 2023 adjusted earnings per share of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%.

Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.

Published in