Veeva Systems (VEEV Quick QuoteVEEV - Free Report) recently announced the availability of Vault Basics, a new offering that includes technology, training, and support designed for biotechs.

Vault Basics enables rapidly expanding businesses to employ market-leading Veeva Vault applications, without any upfront or maintenance costs. Applications developed on industry best practices can be swiftly adopted by biotechs, providing a basis for scaling and growth management. Vault Basics is live at 10 biotechs to promote speed, compliance, and efficiency.

Price Performance

Over the past six months, VEEV’s shares have gained 18.8% compared with the industry’s rise of 26.1%. The S&P 500 increased 17.5% in the same time frame.

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More on Veeva Vault

Veeva Vault is a cloud-based enterprise content management platform and a set of applications that are specifically designed for the life sciences.

Traditionally, companies have needed to set up content applications and other apps to handle related data. Veeva Vault is the only content management system that has a unique ability to manage both data and content. The system, site, and national silos can be removed, allowing businesses to streamline end-to-end procedures in the areas of commercial, medical, clinical, regulatory, quality, and safety.

More on Veeva’s Vault Basics

Veeva’s Vault Basics is known to deliver a complete, pre-validated solution so that expanding businesses can operate quickly and efficiently. It includes Vault eTMF Basics, which is intended to ensure the quality, timeliness, and completeness of a clinical trial master file.

Vault Basics also comprise QualityDocs and Training Basics, which are intended to drive secure GxP document management and centralize employee training and content. It also includes Submissions Archive Basics to plan, author, review and approve regulatory submissions with a complete history of regulatory authority interactions.

Biotechs can manage end-to-end procedures using Veeva Vault applications that are always up to date with the newest features and functionality by utilizing Vault Basics.

Additional Vault Basics offerings are likely to be planned for availability in 2025.

Industry Prospects

Per a report by Mordor Intelligence, the global cloud enterprise management market size is valued at $35.1 billion in 2024 and is expected to reach $74.8 billion by 2029 at a growth rate of 16.3%.

The primary factors propelling the market expansion are the expanding tendency of small and medium-sized enterprises and the growing adoption of multi-cloud services across various industry sectors.

Given the market potential, Veeva’s Vault Basics is likely to help the company boost its business and generate additional revenues.

Notable Developments

In April 2024, Veeva announced that the Veeva AI Partner Program is likely to provide partners with the cutting-edge tools and assistance required to smoothly combine Generative AI (GenAI) solutions with Veeva Vault applications. The Veeva AI Partner Program includes Vault Direct Data API training and support to build expertise in leveraging Veeva Vault Platform's unique, high-speed API.

The company also announced Veeva Vault CRM Campaign Manager, a new industry-specific marketing application that simplifies and speeds non-personal promotion to healthcare professionals.

In March 2024, the company announced that Veeva Vault EDC has powered more than 1,000 study starts. Per management, this reflects the increased adoption of Veeva Vault EDC, which is enabling companies to establish a foundation for modern electronic data capture. This includes eight biopharma and two contract research organizations standardizing on Veeva Vault EDC.

In February, the company announced that Boehringer Ingelheim, a global animal health leader, has selected Veeva Vault Clinical and Veeva Vault RIM applications as its technology foundation for the 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.

Veeva Systems Inc. Price

Veeva Systems Inc. price | Veeva Systems Inc. Quote

Zacks Rank & Other Stocks to Consider

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

Some other top-ranked stocks in the broader medical space that have announced quarterly results are Align Technology, Inc. (ALGN Quick QuoteALGN - Free Report) , Ecolab (ECL Quick QuoteECL - Free Report) and Boston Scientific Corporation (BSX Quick QuoteBSX - Free Report) .

Align Technology, carrying a Zacks Rank of 2, reported first-quarter 2024 adjusted earnings per share (EPS) of $2.14, beating the Zacks Consensus Estimate by 8.1%. Revenues of $997.4 million outpaced the consensus mark by 2.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Align Technology has a long-term estimated growth rate of 6.9%. ALGN’s earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 5.9%.

Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.7%.

Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.

Boston Scientific reported first-quarter 2024 adjusted EPS of 56 cents, beating the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.

Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 7.5%.