Veeva Systems (VEEV) Vault CTMS to help manage clinical trials

Veeva Systems VEEV announced that more than 150 global enterprises and fast-growing companies are accelerating their clinical trial operations with the adoption of Veeva Vault CTMS. With the latest enhancements to Vault CTMS, Veeva Systems continues to deliver innovations that can solve critical testing challenges.

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.

Learn more about Veeva Vault CTMS

Vault CTMS is part of the Veeva Vault Clinical Operations suite, enabling organizations to share information and documents between CTMS, eTMF, study start-up, and payments for better collaboration and increased efficiency throughout the lifecycle. study life.

A growing number of organizations, including 10 of the top 20 pharmaceutical companies and 3 of the top 6 CROs, are using Vault CTMS to simplify trial operations. Notably, sponsors and contract research organizations (CROs) use Vault CTMS to work with more than 300,000 research sites and help more than one million patients through study phases.

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The new Veeva Vault CTMS includes features such as risk-based study management for transparent clinical risk assessment and mitigation, site monitoring enhancements for faster execution, and study monitoring features that make it easier management of protocol issues and deviations for greater compliance.

Importance of CTMS Veeva Vault

According to Veeva Systems management, since launch, more than 150 companies have used Veeva Vault CTMS to dramatically streamline complex trial processes such as clinical risk management and trip report monitoring. The latest enhancement to the Vault system will allow customers to speed up digital testing, while making it more cost effective.

Additionally, the growth in Vault CTMS adoption is helping life science companies proactively manage trials and move toward a more connected and digital future. In addition to productivity gains, Vault CTMS enables sponsors and CROs to improve data quality, make more informed decisions, and keep trials on track.

Industry Outlook

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

RECENT DEVELOPMENTS

In February 2022, Veeva Systems announced that Idorsia Pharmaceuticals Ltd. expanded its use of Veeva Vault clinical suite applications. The extension includes the Veeva Vault Clinical Data Management Suite (“CDMS”) for electronic data entry and coding. 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.

In January 2022, Veeva Systems’ Veeva Development Cloud was selected by the Lymphoma Academic Research Organization to improve the operational efficiency of its lymphoma treatment research.

Price performance

Shares of the company have lost 41% in one year compared to the industryby 57.3%.

Zacks ranking and other key picks

Veeva Systems currently carries a Zacks rank #2 (purchase).

A few other prominent actions in the wider medical field are UnitedHealth Group Incorporated A H, Medpace Holdings, Inc. MEDP and Alkermes plc ALKS.

UnitedHealth, having a No. 2 Zacks ranking, reported Q1 2022 earnings per share (EPS) of $5.49, which beat the Zacks consensus estimate by 1.7%. Revenue of $80.1 billion topped the consensus mark of 14.2%.

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UnitedHealth has an estimated long-term growth rate of 14.8%. UNH’s earnings have exceeded estimates for the past four quarters, with the average surprise being 3.7%.

Medpace reported Q1 2022 Adjusted EPS of $1.69, which beat Zacks’ consensus estimate of 34.1%. Revenue of $330.9 million beat Zacks’ consensus estimate by 1.1%. He currently has a No. 2 Zacks rank.

Medpace has a historic growth rate of 27.3%. MEDP’s earnings have exceeded estimates for the past four quarters, with the average surprise being 17.1%.

Alkermes reported adjusted EPS of 12 cents in the first quarter of 2022, which beat Zacks’ consensus estimate by a penny. Revenue of $278.6 million beat Zacks’ consensus estimate by 6.2%. He currently has a No. 2 Zacks rank.

Alkermes has an estimated long-term growth rate of 25.1%. ALKS earnings have exceeded estimates for the past four quarters, with the average surprise being 350.5%.

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UnitedHealth Group Incorporated (UNH): Free Stock Analysis Report

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