PRA Health Sciences, Inc. (PRAH - Free Report) recently launched Symphony Health’s national market measurement tool, known as Metys, in an effort to enhance its position and capabilities in the data and analytics field. Notably, the new tool is the only integrated all-in-one market research solution that is available from a contract research organization (CRO).
It is important to note here that in September 2017, PRA Health completed the acquisition of Symphony Health — a provider of data and analytics that enable companies to get an idea of the full market lifecycle of products offered for sale in the pharmaceutical industry.
Few Words about Metys
Being the first platform of its kind, Metys delivers pharmaceutical market analytics and intelligence in a timely and comprehensive manner. The tool integrates prescriber, payer and patient data assets, along with source of business, managed care and other key metrics. This provides a complete picture of market activity with excellent speed and precision. Notably, Metys is the only national market measurement solution that includes linked diagnosis subgroups to projected prescriptions and writers.
PRA Health Sciences Set to Gain
With each passing day, complete understanding, measuring and influencing treatment decisions are becoming crucial. With this new tool, the company expects cater to its clients more efficiently, while reinforcing its culture of innovation and excellence.
PRA Health, like other CROs, derive substantially all of its revenues from the research, development and marketing expenditures of the pharmaceutical, biotechnology and medical device industries. With worldwide increase in demand for outsourced clinical development solutions, the CRO industry is gaining rapid traction and popularity.
Per a report by Energias Market Research, the global life science analytics market is anticipated to grow substantially from $10.6 billion in 2017 to $25.2 billion in 2024, at a CAGR of 12.1% from 2018-2024. Technological advancements and availability of big data in life science industry are driving the market.
Zacks Rank and Price Performance
Currently, PRA Health carries a Zacks Rank #3 (Hold). Shares of PRA Health gained 13.5% year to date, against the industry’s decline of 10.8%. Meanwhile, the S&P 500 Index rallied 18.5% in the same time frame.
Some better-ranked stocks from the broader medical space are Baxter International Inc. (BAX - Free Report) , Amedisys, Inc. (AMED - Free Report) and CONMED Corporation (CNMD - 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.
Baxter has a long-term earnings growth rate of 12.8%.
Amedisys has a long-term earnings growth rate of 16.3%.
CONMED has a long-term earnings growth rate 14.9%.
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