Accenture plc (ACN - Free Report) yesterday announced that it collaborated with Bayer to implement its INTIENT Clinical platform in Bayer’s drug development processes.
The platform, which was built in collaboration with Oracle (ORCL - Free Report) , captures, imports, stores and standardizes complex clinal data. It helps in fast running of clinical trials, with high transparency and easy access to trial information. It can quickly combine new technology, advanced analytics and applied intelligence to support betterment of patient outcomes.
Mike Stapleton, a managing director in Accenture’s Life Sciences practice, said, “We are excited to work with Bayer to provide new insights on their clinical trials, so they can bring the important treatments they develop to patients faster and with the highest quality.”
The collaboration will benefit Accenture’s Life Sciences industry group. It is part of the company’s Products segment and serves pharmaceutical, medical technology and biotechnology companies.
Products’ revenues increased 4% year over year on a reported basis and 8% in local currency in the last reported quarter. Notably, growth in Life Sciences across all geographic regions significantly contributed to the segment’s performance.
We observe that shares of Accenture have gained 38.8% year to date, outperforming the 32% growth of the industry it belongs to and 27.3% rally of the Zacks S&P 500 composite.
Zacks Rank and Stocks to Consider
Accenture currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are Huron Consulting (HURN - Free Report) and Charles River Associates (CRAI - Free Report) , each currently 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 earnings (three to five years) growth rates for Huron and Charles River are 13.5% and 13%, respectively.
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