Six of the Top 20 Pharma Select Veeva Vault EDC as Company Standard for New Trials

Rhea-AI Summary

Veeva Systems (NYSE: VEEV) reported increased adoption of Veeva Vault EDC, with six out of the top twenty pharmaceutical companies opting for this solution to improve clinical data management. The system allows for significant time and cost savings, enhancing the overall research site experience. Vault EDC provides agile tools to manage trial complexity, facilitating faster study builds and amendments. Feedback from industry leaders indicates a 30-35% improvement in study build timelines. Veeva remains committed to advancing clinical data management through innovative solutions, with a focus on operational excellence and customer success.

Positive

• Six of the top 20 pharma companies are adopting Veeva Vault EDC.
• Veeva Vault EDC improves study build timelines by 30-35%.
• The system enables significant time and cost savings for biopharmaceutical companies.
• Veeva Vault EDC enhances collaboration and data consistency across CROs.

Negative

• None.

Companies move to Veeva Vault EDC for greater speed and efficiency

PLEASANTON, Calif., Feb. 23, 2023 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced increasing adoption of Veeva Vault EDC as leading organizations – including 6 of the top 20 pharma – move to modernize clinical data management. Benefitting from Vault EDC's advanced data capabilities to streamline study build and data processing, companies can achieve significant savings in time, effort, and cost and provide a better research site experience.

With increasing trial complexity, biopharmaceutical companies need agile systems that allow clinical teams to design, start, execute, and amend all types of studies quickly. Vault EDC delivers dynamic design tools that automate manual processes and enable faster study builds. As the trial progresses, Vault EDC users can make amendments without costly data migrations.

"The industry is making significant progress in its move to patient-centric trials," said Richard Young, vice president, Vault CDMS at Veeva. "We are committed to delivering the innovation data managers need to balance complex scientific efforts with the operational excellence that will advance clinical data management. Thanks to our customers, especially our early adopters, for partnering closely with us in the past few years as we have matured our product offerings."

Vault EDC is part of the Veeva Vault Clinical Suite and integrates with Veeva Vault CTMS to provide a seamless data flow for efficient operations and a superior user interface and workflow for CRAs and other clinical professionals.

What the industry is saying about Veeva Vault EDC

"Using Veeva Vault EDC's innovative capabilities, we have seen a 30 to 35% improvement in study build timelines compared to what we did before 2021," said Mayank Anand, vice president and global head of data strategy and management at GSK. "Veeva is a key part of our data strategy for the future."

"While working with different CROs, Veeva Vault EDC gives us consistency in our data, speeding study builds and amendments," said Evelyn Dorsey, director of data management at Cara Therapeutics. "We're now able to leverage flexible reporting to share custom metrics and provide easy access to CRO team members, simplifying collaboration and increasing overall efficiency."

"We are thrilled to evolve our partnership to include Veeva Vault EDC as part of our standard operating model," said Mark Morais, COO at Labcorp Drug Development. "Veeva EDC has helped us modernize our data operations, build and amend studies faster, and ultimately deliver trial data more effectively." 

"We're focused on running global adaptive platform for PHASE-I, II, and III trials with large patient populations and needed an electronic data capture system that can keep up with the dynamic nature of our studies," said Michael Lambert, vice president, data management at Platform Life Sciences. "With Veeva Vault EDC, we can incorporate changes to our data pipeline or protocol to gain insights faster. This allows us to respond quickly to modifications for the CRF or ICF and keep trials moving forward."

Additional Information
For more on Veeva Vault EDC, visit: veeva.com/EDC 
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems

About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest pharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.

Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended October 31, 2022, which you can find here (a summary of risks which may impact our business can be found on pages 39 and 40), and in our subsequent SEC filings, which you can access at sec.gov.

Contact:

Deivis Mercado
Veeva Systems
925-226-8821
deivis.mercado@veeva.com

 

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SOURCE Veeva Systems

FAQ

What recent developments are occurring with Veeva Vault EDC?

Veeva Vault EDC is experiencing increased adoption, with six of the top twenty pharma companies choosing it for clinical data management.

How does Veeva Vault EDC improve clinical trials?

It streamlines study builds and processing, achieving 30-35% faster timelines for trials.

What advantages does Veeva Vault EDC provide to its users?

Users benefit from significant time and cost savings, enhanced data consistency, and improved collaboration.

When did Veeva make this announcement regarding Vault EDC?

The announcement was made on February 23, 2023.

What is Veeva's focus in advancing clinical data management?

Veeva aims to balance complex scientific needs with operational excellence to enhance clinical data management.