Veeva Systems (VEEV) Vault CDMS to Help Idorsia Clinical Trials

Veeva systems VEEV recently announced that Idorsia Pharmaceuticals Ltd has expanded its use of Veeva Vault Clinical Suite applications. This extension includes Veeva Vault Clinical Data Management Suite (“CDMS”) for electronic data capture and coding.

As a biopharmaceutical company with a large portfolio of new drugs in its pipeline, Idorsia currently aims to use Vault CDMS for all new trials.

The growing adoption of Veeva Systems’ applications is expected to provide a significant boost to the company’s Veeva Vault Clinical suite, a component of the company’s broader Life Sciences Segment Veeva Development Cloud product line.

Meaning of adoption

Veeva Systems’ Vault CDMS provides a suite of advanced cloud applications that should enable Idorsia to accelerate its study builds and accelerate trial execution. Idorsia management believes that the partnership with Veeva Systems will bring greater speed and agility to its clinical trials, given the increasing complexity of trial design and the increase in clinical data sources.

According to Veeva Systems management, adoption of its suite of cloud applications will likely support Idorsia’s clinical systems strategy with modern applications that can match the pace and complexity of today’s studies.

Industry Outlook

According to a report by Marketsandresearch.biz, the global Clinical Data Management Systems Market was esteemed at USD 1574.8 Million in 2021 and is projected to reach USD 4294.1 Million by 2028 at a CAGR of 15.4%. Factors such as an increase in clinical trials, a thriving healthcare industry, and growing research collaborations and partnerships are expected to drive the market.

Given the market potential, the growing adoption of the company’s applications is expected to strengthen its position in the global cloud application space.

RECENT DEVELOPMENTS

Last month, Veeva Systems’ Veeva Development Cloud was selected by the Lymphoma Academic Research Organization to improve the operational efficiency of its lymphoma treatment research.

In December 2021, Veeva Data Cloud from Veeva Systems was adopted by hematology/oncology therapy developer, PharmaEssentia. The adoption aims to support the launch of PharmaEssentia’s BESREMi, a latest treatment for polycythemia vera, a rare type of blood cancer.

That same month, Veeva Systems acquired Veracity Logic, a cloud-based software provider for randomization and trial supply management. Veracity Logic will join Veeva Systems in providing industry-leading software and services that can help companies streamline complex processes and accelerate clinical trials.

Price performance

Shares of Veeva Systems have lost 26.5% in the past year to industryS&P 500 fell 48.7% and rose 14.3%.

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Zacks ranking and key picks

Currently, Veeva Systems carries a Zacks rank #4 (sell).

Some top-ranked actions in the broader medical field are Baxter International Inc. BAx, Allscripts Healthcare Solutions, Inc. MDRX and AMN Healthcare Services, Inc. AMN.

Baxter, having a Zacks rank of No. 2 (buy), has an estimated long-term growth rate of 9.5%. BAX’s earnings have exceeded estimates for the past four quarters, with the average surprise being 10.2%. You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Baxter gained 7.9% against the industrydown 17.3% over the past year.

Allscripts has an estimated long-term growth rate of 11.1%. MDRX earnings have exceeded estimates for the past four quarters, with the average surprise being 34.1%. He currently wears a No. 2 Zacks rank.

Allscripts gains 26.1% over the industrydown 53.5% over the past year.

AMN Healthcare has an estimated long-term growth rate of 16.2%. AMN’s earnings have exceeded estimates for the past four quarters, with the average surprise being 19.5%. He currently has a No. 2 Zacks rank.

AMN Healthcare gained 28.2% vs. industrydown 58.5% over the past year.

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