Veeva Systems VEEV and Walgreens Boots Alliance, Inc. WBA recently announced a long-term strategic partnership to help life sciences companies improve patient outcomes.
Through this collaboration, Walgreens is likely to use Veeva’s Data Cloud and Clinical Platform to connect its extensive network of community locations with diverse patient populations, aiming to simplify access to clinical research.
Benefits to VEEV Following the Deal with Walgreens
The deal with Walgreens is likely to enhance sales of Veeva Data Cloud products including Veeva OpenData, Link, and Compass products.
This partnership benefits Veeva Systems by expanding its reach into the healthcare and clinical trials sectors, leveraging Walgreens' vast network to access diverse patient populations. This integration positions the company as a crucial technology provider for streamlining patient access and engagement in clinical trials, potentially increasing its market share and influence within healthcare.
Additionally, the collaboration aligns with Veeva Systems’ mission to drive more inclusive and efficient trials, enhancing the company’s reputation and potential growth in digital health solutions.
More on VEEV’s Data Cloud & Clinical Platform Performance
Veeva Systems’ recent updates highlight strong performance and innovation in its Data Cloud and Clinical Platform services. Veeva Data Cloud offers a suite of data solutions that integrates and enhances data accessibility and insights for the life sciences industry. Its key products include Veeva OpenData, Veeva Link, and Veeva Compass.
Veeva Systems added 21 new brands for Compass Patient in the first quarter of fiscal 2025, including its first seven wins with a top 50 biopharma. It also signed the first Compass Prescriber and Compass National customers following the products’ release in January. Compass is gaining traction as it delivers data for in-office therapies and retail prescriptions, giving customers more complete and accurate data than legacy alternatives.
Veeva Link also continued to progress well, crossing the 100-customer mark, as the industry enhances engagement through real-time intelligence.
Meanwhile, the Veeva Clinical Platform addresses clinical research needs with a cloud-based ecosystem that centralizes study management processes. This includes applications like Vault eTMF (electronic Trial Master File), CTMS (Clinical Trial Management System), and Study Startup, all of which aim to reduce the time and cost of clinical trials. The platform provides a unified data source for trial processes, improving operational efficiencies and compliance.
During the second quarter of fiscal 2025, the release of Veeva Site Connect added significant capabilities to streamline and simplify the clinical trial process for sites and biopharma sponsors. Site Connect is gaining momentum including a win with its seventh top 20 biopharma. Veeva Clinical Database (CDB), a major innovation in clinical data, has been selected by seven top 20 biopharmas to reduce manual query work and increase speed and efficiency in trials.
More on VEEV’s Recent Partnerships
Veeva Systems has recently engaged in strategic partnerships with Vita Global Sciences, Tigermed, and Boehringer Ingelheim, each of which has significantly benefited VEEV's operations and market positioning. The collaboration with Vita Global Sciences involves the implementation of Veeva Vault Electronic Data Capture, which streamlines clinical data management processes.
Similarly, the partnership with Tigermed further establishes Veeva's market presence, particularly in the Asia-Pacific region, enabling it to attract more contract research organizations and biopharma companies to its platform???. The collaboration with Boehringer Ingelheim enhances Veeva's reputation as a provider of comprehensive solutions across various sectors, including animal health.
Through these partnerships, Veeva Systems is positioning itself as a leader in cloud-based solutions for the human and animal health sectors. It is driving innovation, improving operational efficiencies, and ultimately enhancing the user experience across its diverse client base.
Other Peer Stocks
Solventum Corporation SOLV, which recently became an independent entity after spinning off from 3M on April 1, 2024, is focused on providing innovative solutions in the healthcare sector. In its recent second-quarter 2024 report, Solventum demonstrated strong financial performance, raising its full-year guidance based on robust growth initiatives and strategic investments. The company aims to enhance its capabilities in data analytics and clinical trial management, leveraging advanced technology to improve operational efficiency and health outcomes. Solventum's mission emphasizes addressing critical healthcare challenges and improving patient care through innovative products and services.
In September, SOLV announced the launch of the V.A.C. Peel and Place Dressing, an integrated dressing and drape that can be applied in less than two minutes and worn by patients for up to seven days.
In August, SOLV announced that its autonomous coding solution has received Toolbox designation from Epic in the Fully Autonomous Coding category. Toolbox is a designation for products using established integration technologies in specific categories that meet Epic's recommended connection pattern.
IQVIA Holdings, Inc. IQV has a huge collection of healthcare information that encompasses more than one billion comprehensive, longitudinal, non-identified patient records across sales, prescription and promotional data, electronic medical records, medical claims, genomics, and social media.
A set of robust capabilities places IQVIA strongly in the life sciences space and positions it to make most of the market opportunities. IQV has a strong healthcare-specific global IT infrastructure, analytics-driven clinical development capabilities, a robust real-world solutions ecosystem and a growing set of proprietary clinical and commercial applications that allows it to grow and retain relationships with healthcare stakeholders.
In October, IQV announced IQVIA AI Assistant, a gen-AI technology that allows a step-change improvement in how life science customers receive timely and powerful insights.
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