Veeva Systems Inc. - VEEV STOCK NEWS

Veeva Systems, the leader in cloud software for life sciences, reports a surge in adoption of its Veeva Vault CTMS, with over 100 companies enhancing their clinical trial management. Companies, including CSL Behring and Atlantic Research Group, have noted significant reductions in operational costs and time, streamlining processes like site monitoring. Veeva Vault CTMS integrates seamlessly with other Veeva products, promoting collaboration and efficiency across clinical studies. The firm continues to focus on improving trial oversight and execution speed.

Veeva Systems (NYSE: VEEV) has secured partnerships with six of the top 20 global pharmaceutical companies to implement its Veeva Vault QMS, enhancing quality management across various sectors. Over 175 biopharma and medtech firms have adopted the platform to streamline quality processes. Recent updates to Vault QMS include features like improved connections to Veeva Vault Registrations, advancements in Quality Risk Management, and full automation for audit responses. The company emphasizes its commitment to customer-focused innovations and operational efficiency in quality management.

On May 11, 2021, Veeva Systems issued a statement countering IQVIA's misleading press release regarding an e-discovery ruling in their ongoing antitrust case. Veeva asserts that the ruling does not resolve key issues and is appealing it. All of Veeva's claims are proceeding to trial, which is expected to start in early 2023. Additionally, an investigation by the FTC into IQVIA's alleged anti-competitive practices is ongoing, highlighting concerns about IQVIA's data monopoly in the life sciences sector.

Veeva Systems (NYSE: VEEV) has introduced new modular content capabilities in Veeva Vault PromoMats to enhance content creation and distribution for life sciences marketers. The updates include features enabling brands to produce compliant content more quickly, addressing the significant shift towards digital engagement. According to Veeva Pulse data, digital content creation has increased 3.5 times compared to print. The enhanced platform is expected to reduce review cycles by over 20% and improve speed to market by more than 50%.

Veeva Systems will announce its fiscal 2022 first-quarter financial results on May 27, 2021, following the market close. The conference call to discuss the results is scheduled for 2:00 p.m. PT (5:00 p.m. ET) on the same day. Investors can access prepared remarks and a webcast replay on the investor relations website. Veeva serves over 975 customers in the life sciences industry, focusing on software solutions for pharmaceutical companies and biotechs.

Veeva Systems has launched the Veeva Quality Content Reference Model to facilitate quality transformation and standardize quality management across the life sciences industry. This model consolidates best practices from numerous successful implementations of Veeva Vault QualityDocs, aiming to enhance system deployment and ensure compliant content practices. It simplifies stakeholder alignment and optimizes document organization, promoting collaboration among both emerging companies and established organizations. The model is available for companies ready to modernize their content management.

Veeva Systems provides innovative solutions for medtech companies facing increasing complexities in clinical trials and regulatory changes. Fast-growing firms like Gala Therapeutics, Inari Medical, and Lumicell benefit from Veeva MedTech applications to manage trials efficiently while ensuring compliance. Gala Therapeutics leverages Vault Clinical Suite for rapid study development, Inari Medical enhances document management with Vault eTMF, and Lumicell streamlines collaboration using Vault CDMS. Veeva's cloud-based tools support the accelerated product lifecycle, aiming to improve trial execution and oversight.

Veeva Systems (NYSE: VEEV) and Parexel announced a strategic collaboration to enhance clinical trial efficiency through technology and process innovations. This partnership will standardize Parexel's operations on Veeva's suite of clinical applications, including Vault eTMF and Vault CTMS, to streamline processes and improve trial execution. By utilizing insights from various stakeholders, the collaboration aims to continuously refine Veeva's cloud technology and Parexel's methodologies for clinical trials, ultimately accelerating the delivery of new therapies to patients.

Veeva Systems (NYSE: VEEV) announced that TFS HealthScience has adopted its Veeva Vault Clinical Operations Suite for comprehensive study management across a unified cloud platform. This transition aims to enhance operational efficiency and speed in clinical trials, ultimately benefiting biopharma clients through cost-effective and compliant studies. TFS HealthScience's CEO emphasized that the suite serves as a foundation for global service expansion, while the CIO noted that it improves visibility into study progress, aiding in informed decision-making.