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IQVIA Holdings Inc. (symbol: IQV) is a prominent player in the healthcare industry, formed from the merger of Quintiles and IMS Health in 2016. The company operates as a global leader in integrated information and technology solutions, driving advancements in healthcare. With a workforce of approximately 50,000 employees across more than 100 countries, IQVIA is dedicated to helping clients improve their clinical, scientific, and commercial outcomes.
Core Services:
- Research and Development (R&D): IQVIA provides outsourced late-stage clinical trials for pharmaceutical, device, and diagnostic firms. This segment focuses on delivering comprehensive research services to advance medical innovations.
- Technology and Analytics: The company offers aggregated information and technology services, catering to pharmaceutical companies, healthcare providers, payers, and policymakers. IQVIA's data and analytics capabilities extend to clinical trials, including virtual trials, ensuring efficient and effective trial outcomes.
- Contract Sales: IQVIA also maintains a small contract sales business, supporting the commercial needs of its clients.
Recent Achievements and Projects:
IQVIA continues to make significant strides in protecting individual patient privacy while leveraging healthcare data to deliver critical real-world disease and treatment insights. The company's commitment to innovation is evident in its ongoing projects and partnerships aimed at enhancing healthcare outcomes globally.
For more information, visit www.quintilesims.com.
The IQVIA Institute has released a report detailing the global rise in cancer diagnoses and the corresponding increase in innovative cancer therapies. Cancer incidence is projected to reach 32 million new cases annually by 2050, especially in lower-income countries.
Global spending on cancer medicines rose to $223 billion in 2023 and is expected to hit $409 billion by 2028. The year 2023 saw the launch of 25 novel active substances (NASs) in oncology, bringing the total to 193 since 2014.
Over 2,000 new oncology clinical trials began in 2023, featuring advanced therapies like cell and gene therapies, antibody-drug conjugates, and radioligand therapies. Despite advancements, geographic disparities in access to these therapies persist.
Oncology trials have become less complex, increasing the success rate to 10% in 2023 from 4% the previous year. However, the pace of bringing new therapies to patients remains uneven due to differences in healthcare infrastructure and adoption rates.
Overall spending on medicines in the U.S. grew by 2.5% in 2023, reaching $435 billion. Excluding COVID-19 vaccines and therapeutics, the growth rate was 9.9%, driven by advances in oncology, immunology, diabetes, and obesity treatments. Patient out-of-pocket costs rose to $91 billion, influenced by wider use of GLP-1 agonists for diabetes and obesity. New prescriptions increased by 4%, while patient visits and diagnostics fell by 4-6%. The flu vaccination rate dropped by 17%. The IQVIA Health Services Utilization Index fell 3% to 97. The report projects continued growth in medicine spending, driven by innovation but tempered by patent expirations and the introduction of biosimilars. Net pharmaceutical spending is forecasted to grow at 4-7% annually through 2028, with oncology and obesity as primary growth drivers.
IQVIA Holdings Inc. announced that Ron Bruehlman, CFO, will speak at the Bank of America Health Care Conference on May 14, 2024. The presentation will be webcasted live and available for replay on the IQVIA Investor Relations website.
IQVIA Holdings Inc. reported strong financial results for the first quarter of 2024, with revenue reaching $3,737 million, GAAP Net Income of $288 million, and Adjusted EBITDA of $862 million. The company's First-Quarter 2024 Operating Results showed revenue growth of 2.3% on a reported basis and 2.9% at constant currency. R&D Solutions revenue increased by 3.4%, Technology & Analytics Solutions revenue grew by 0.6%, and Contract Sales & Medical Solutions revenue rose by 3.8%. The company's contracted backlog reached $30.1 billion, up 7.9% year-over-year. IQVIA reaffirmed its full-year guidance for 2024, expecting revenue growth of 2.3% to 3.9% and Adjusted Diluted EPS growth of 7.4% to 10.3% year-over-year.
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