PRA Health Sciences, Inc. PRAH recently announced that Symphony Health, a PRA Health Sciences subsidiary, will make a 30-day license of its newly-launched Metys COVID-19 Module. It is currently available to the U.S. life science industry free of cost.
This development is likely to boost PRA Health’s Data Solutions segment, which offers data, analytics, technology, and consulting solutions to the life sciences market.
More About the Module
The COVID-19 Module within the Metys platform will offer up to three users per company access to all drugs and markets within any U.S. geographic region down to CBSA (core-based statistical area).
Powered by Symphony’s IDV (Integrated Dataverse), Metys is a unique platform that delivers fast and comprehensive pharmaceutical market analytics. Metysis a web-based tool that accurately integrates prescription, payer, and anonymized patient data through one single access point. It delivers insights swifter than any other tool in the market. Metys has access to over 60 terabytes of automatically included weekly and monthly data.
The global COVID-19 pandemic has thrown an unprecedented challenge to the life sciences industry in the United States and across the globe. Experts in the field of life sciences can use the data and insights available through this platform to observe trends and take action accordingly.
In March, PRA Health announced the expansion of its market-leading Mobile Health Platform, which has been designed to facilitate remote clinical monitoring. This has been done by adding several new capabilities that cater to sponsor needs for COVID-19 virtual study support.
Per a report by MarketWatch.com, the life science analytics market is projected to see a CAGR of 11.91% during the 2019 to 2025 period. It valued $19.16 billion in 2018.
In the past year, the company’s shares have outperformed the industry.The stock has lost 11.8% compared with the industry’s 27.5% decline.
Zacks Rank and Key Picks
PRA Health currently has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are ResMed Inc. RMD, DexCom DXCM and Surmodics SRDX.
ResMed has a projected long-term earnings growth rate of 12%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DexCom’s long-term earnings growth rate is estimated at 36.7%. The company presently carries a Zacks Rank #2.
Surmodics’ long-term earnings growth rate is estimated at 10%. It currently carries a Zacks Rank #2.
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