Cognizant and Gilead Extend Partnership with Five-Year Service Agreement Estimated at $800 Million
Cognizant will manage Gilead's global IT infrastructure while leading digital transformation initiatives designed to enhance overall client experience and enable faster time to market for Gilead products.
TEANECK, N.J., July 24, 2023 /PRNewswire/ -- Cognizant (NASDAQ: CTSH) today announced an expansion of its relationship with Gilead Sciences (NASDAQ: GILD). Gilead is a leading biopharmaceutical company advancing innovative medicines to prevent and treat life-threatening diseases. Under the agreement, Cognizant will manage Gilead's global IT infrastructure, platforms, applications and advanced analytics, and lead initiatives designed to accelerate its digital transformation. The agreement includes renewal and expansion of Cognizant services for a total expected value of $800 million over the next five years. This collaboration is aimed at enabling Gilead to streamline various parts of its business with the goal of faster time to market of various medicines for life-threatening diseases, including HIV, viral hepatitis, and cancer.
The pharmaceutical industry has traditionally been slower to adopt digital transformation journeys compared with other industries. Gilead is an industry leader in embracing digital transformation in its business, having partnered with Cognizant for more than three years to adopt cutting-edge technologies designed to drive better business outcomes. This includes supporting enabling technologies for running business operations, new product launches and improving IT processes for efficient research, manufacturing, and commercialization of its products.
"Over the past three years, Cognizant has demonstrated quality delivery, adaptability and dedication to Gilead's success," said Marc Berson, Senior Vice President and Chief Information Officer at Gilead Sciences. "Through this collaboration, Cognizant has provided critical expertise to progress our digital transformation journey while enabling stable, secure operations. This has allowed us to advance research and commercialization of transformative treatments for some of the world's most challenging diseases. We look forward to expanding this partnership to advance to the next phases of our capability roadmap."
Building on the company's collaboration, Cognizant will continue to support Gilead in the following:
Enhance the internal and external client experience: BioPharma customers often need special and time-sensitive assistance to support their projects. With IT infrastructure, IT security and IT platform services, Cognizant expects to enable Gilead to provide a more consistent and seamless experience to over 18,000 internal users across 40+ countries globally.
Expand cloud operations: Cognizant will continue to support Gilead's shift to cloud-computing environments as appropriate in collaboration with the hyperscalers. In addition, Cognizant will also help Gilead continue to modernize the business applications on such Cloud Platforms.
Digitally transform the business: Cognizant anticipates leveraging the power of Generative AI (GenAI) and AI automation to help enhance Gilead's customer service experience and assist it in driving greater manufacturing efficiencies. The GenAI advances should enable Gilead to provide greater visibility and transparency about the company's treatments to patients and internal employees globally. The company will leverage Cognizant's Neuro IT service for AI automation innovation, which should help the company to bring products to market more efficiently. In addition, Cognizant will build applications and operate services that introduce new or enhanced technologies enabling efficient and differentiated business capabilities.
Data and Analytics Services: Cognizant will continue to provide support for all enterprise data and analytics platforms across all business functions, including the introduction of the latest and most relevant technologies to support differentiated business outcomes.
"We're excited about this expanded partnership with Gilead, one of the pharmaceutical industry leaders in adapting advanced technologies to better deliver transformative treatments for patients world-wide," said Surya Gummadi, Executive Vice President and President, Cognizant Americas. "Working together our teams will be leveraging the latest technologies from automation to cloud computing, and Generative AI to help Gilead bring its products to market faster, more efficiently, and with higher customer satisfaction."
About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.
About Gilead
Gilead Sciences, Inc. is a biopharmaceutical company that has pursued and achieved breakthroughs in medicine for more than three decades, with the goal of creating a healthier world for all people. The company is committed to advancing innovative medicines to prevent and treat life-threatening diseases, including HIV, viral hepatitis and cancer. Gilead operates in more than 35 countries worldwide, with headquarters in Foster City, California.
Forward-Looking Statements
This press release includes statements that may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to the business relationship between Cognizant and Gilead and the benefits thereof, as well as the estimated value of the expanded agreement. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond both Cognizant's and Gilead's control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, the competitive and rapidly changing nature of the markets each of Cognizant and Gilead compete in and the other factors discussed each of Cognizant's and Gilead's most recent Annual Report on Form 10-K, Quarterly Report on Form 10-Q and other filings with the Securities and Exchange Commission. Neither Cognizant nor Gilead undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
For more information, contact:
U.S. Name Jason Forget Email | Europe / APAC Name Christina Schneider Email | India Name Rashmi Vasisht Email |
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SOURCE Cognizant Technology Solutions
