Medidata Solutions, Inc. announced its collaboration with Mapi Research Trust to build a digital library of pre-configured and pre-approved electronic clinical outcomes assessment (eCOA) questionnaires. Per management, this will enable Medidata Rave eCOA to collect COA data from hundreds of studies each year for better patient outcomes.
Apart from boosting Medidata’s Rave platform, the collaboration is expected to solve major eCOA implementation struggles that affect the pharmaceutical industry. Mapi Research’s licensing and author relationships, combined with Medidata’s expertise and eCOA solution, will make study management more efficient.
So, the new eCOA library will include more than 470 questionnaires and pre-approved agreements with instrument authors for faster study start acceleration.
Medidata’s Rave at a Glance
Medidata Rave is a cloud-based clinical data management system used to electronically capture, manage and report clinical research data. It enables the user to record patient information using forms that are customized for each study.
The company is witnessing substantial growth with Rave through the attachment of more products. Notably, Medidata serves more than 1200 active customers.
An article by Globenewswire suggests that the global eCOA market is expected to reach a worth of $2.52 billion at a CAGR of 17.6%. Notably, strict regulatory norms were imposed on the pharmaceutical and biotech industries during the 2016-2017 period. This compelled the drug manufacturing companies to digitalize the process of their clinical trial outcomes, which drove market growth.
Hence, Medidata’s latest alliance is well timed.
Medidata Getting Acquired
For investors’ notice, management at Medidata recently announced that the company is being acquired by French technology stalwart — Dassault Systèmes — in an all-cash transaction at a price of $92.25 per share. The figure represents an enterprise value of $5.8 billion. The acquisition is expected to close by the end of 2019.
In the past year, shares of this Zacks Rank #3 (Hold) company have rallied 13.9% against the industry’s 12.8% decline.
A few better-ranked stocks in the broader medical sector are Baxter International (BAX - Free Report) , Intuitive Surgical (ISRG - Free Report) and Masimo Corporation (MASI - Free Report) . While Baxter and Masimo carry a Zacks Rank #2 (Buy), Intuitive Surgical sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Baxter’s long-term earnings are expected to grow 12.8%.
Intuitive Surgical’s long-term earnings are projected to increase 12.8%.
Masimo’s long-term earnings are estimated to rise 20.5%.
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