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IQVIA Introduces SaaS Based eConsent Tool for Clinical Trials

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IQVIA Holdings Inc. (IQV - Free Report) unveiled a Software as a Service (“SaaS”) eConsent tool for use in clinical trials yesterday.

Known as Informed Consent Form (ICF), the digital tool enables sites, sponsors and contract research organizations to develop their own ICFs and get them delivered through eConsent or traditional paper. It can be utilized with online as well as offline consent protocols.

ICF Author provides tools, training and best-practice resources for creation, management and automation of consent solutions. It reduces time as well as cost of development and implementation along with common audit issues concerning good clinical practices. It implements automatic scalability and provides complete control.

Tal Rosenberg, senior vice president, Global Technology Solutions at IQVIA, stated, “This product opens up the realm of eConsent to anyone and everyone.”

In a year’s time, shares of IQVIA have gained 14.1%, against the 11.6% decline of the industry it belongs to.

 

Our Take

We believe that the new offering will boost the Technology & Analytics Solutions segment that provides SaaS solutions that support a vast range of clinical and commercial processes.

The segment performed well in the last reported quarter, with revenues increasing 12.9% year over year on a reported basis and 15% on a constant-currency basis.

Zacks Rank and Stocks to Consider

Currently, IQVIA is a Zacks Rank #3 (Hold) stock.

A few better-ranked stocks in the broader Business Services sector include Paychex, Inc. (PAYX - Free Report) , Genpact Ltd. (G - Free Report) and WEX Inc. (WEX - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The long-term expected EPS (three to five years) growth rate for Paychex, Genpact and WEX is 8.5%, 10% and 15%, respectively.

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