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IQVIA (IQV) Introduces Multi-Tenant SaaS Safety Solution

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IQVIA Holdings Inc. (IQV - Free Report) yesterday announced the development of Software as a Service (SaaS) safety platform. It is aimed at lowering cost and complexity of pharmacovigilance and enhancing organization’s focus on patient safety.

The platform that clubs IQVIA’s domain expertise, process automation, machine learning and artificial intelligence technologies, real world and regulatory data and expertise of more than 3,000 drug safety professionals will run on Salesforce (CRM) architecture. It will enable access from multiple users across multiple locations.

It will provide actionable insights and streamline pharmacovigilance operations by eliminating costly upgrade projects, long validation cycles and repetitive manual processes to help users achieve zero-touch processing.

“This safety platform adds a transformative dimension to our molecule-to-market technology suite,” stated Al Rosenberg, senior vice president, Global Technology Solutions at IQVIA.

We observe that shares of IQVIA have rallied 21.4% in the past year, against the 11.8% 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 to 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 & Stocks to Consider

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

A few better-ranked stocks in the broader Business Services sector are Republic Services (RSG - Free Report) , Waste Connections (WCN - Free Report) and Navigant Consulting (NCI - 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.

Long-term expected EPS (three to five years) growth rate for Republic Services, Waste Connections and Navigant is 10.7%, 11.7% and 13.5%, respectively.

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