Veeva Introduces Vault Basics for Biotechs
Rhea-AI Summary
Veeva Systems (NYSE: VEEV) has launched Veeva Vault Basics, a new turnkey solution tailored for biotechs, which includes technology, training, and support with zero implementation and maintenance costs.
This offering allows biotechs to swiftly adopt industry-leading Veeva Vault applications, thereby enhancing efficiency, speed, and compliance. Currently, ten biotechs are using Vault Basics, which equips them with tools to manage growth effectively without additional costs.
The solution includes Vault eTMF Basics, Vault QualityDocs and Training Basics, and Vault Submissions and Submissions Archive Basics, providing a comprehensive suite for clinical trials, GxP document management, and regulatory submissions. Vault Basics is now available in North America, with additional offerings expected in 2025.
Positive
- Zero implementation and maintenance costs for Veeva Vault Basics.
- Ten biotechs already using the solution successfully.
- Enhances efficiency, speed, and compliance for growing biotechs.
- Includes comprehensive tools for clinical trial management, GxP document management, and regulatory submissions.
- Allows biotechs to quickly adopt industry-leading technology.
Negative
- No financial data provided on the impact or revenue expectations of Veeva Vault Basics.
- to North America currently, which may restrict global adoption initially.
News Market Reaction
On the day this news was published, VEEV declined 0.82%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Delivers industry-leading Vault applications in a turnkey solution with no implementation costs for simple adoption
"Veeva Vault Basics delivers the complete, pre-validated solution that we need to operate quickly and efficiently as we scale our business," said Phil Adams, senior director of IT at Longboard Pharmaceuticals. "Adding proven technology that was easy to deploy allows us to remain nimble, reducing our ramp-up time, decreasing risk of non-compliance, and improving data quality to accelerate product time to market."
Biotechs using Vault Basics can manage end-to-end processes on Vault applications that are always up to date with the latest features and functionality. Vault Basics is available for
- Vault eTMF Basics to ensure quality, timeliness, and completeness of a clinical trial master file.
- Vault QualityDocs and Training Basics to drive secure GxP document management and centralize employee training and content.
- Vault Submissions and Submissions Archive Basics to plan, author, review, and approve regulatory submissions with a complete history of regulatory authority interactions.
"We're applying our deep expertise in life sciences to offer one of the only solutions purpose-built with the simple path biotechs need to scale for growth," said Steve Harper, general manager, Veeva Vault Basics. "With 10 biotechs already signed up and starting to see the benefits of Veeva Vault Basics, we're gaining momentum as more growing companies use Vault with significantly less effort, overhead, and ongoing maintenance."
Additional Vault Basics offerings are planned for availability in 2025. For more on Vault Basics, visit veeva.com/VaultBasics.
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 biopharmaceutical 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-K for the fiscal year ended January 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 9 and 10), 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
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