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Veeva Systems Inc. VEEV recently expanded in 11 new therapeutic areas in the customer intelligence platform Veeva Link. The Veeva Link, initially offering oncology solutions, now provides accurate and relevant data on influential stakeholders in bacterial infections, cardiology, dermatology, endocrinology, gastroenterology, hepatology, nephrology, neurology, respiratory, rheumatology and virology.
This customer intelligence platform features deep, curated expert profiles with real-time insights. The latest expansion across 11 new therapeutic areas is expected to enable Veeva Systems’ partner with organizations to bring life-changing health solutions to customers through identification and interaction with global experts to understand the ecosystem around them.
Per the company, this expansion will establish the industry standard for real-time customer intelligence.
Few Words on Veeva Link
Veeva Link offers life science companies detailed information on top global experts across 12 therapeutic areas, available in more than 50 countries. The dynamic profiles are curated from several public data sources, including social media feeds, publications, clinical trials, events and associations. The platform enables companies to engage with key experts and provides them access to their expertise, latest collaborations, scientific and digital activities.
The company expects Veeva Link’s expansion to integrate insights from a broad range of digital and scientific data sources into Veeva's Commercial Cloud, to allow the healthcare community to improve research and patient care.
Per a report published in MarketsAndMarkets, the global customer analytics market is set to witness a CAGR of 18.2% during the forecast period. Factors like increased need to understand customer behavior, business process automation to streamline marketing operations and advent of Artificial Intelligence and Machine Learning technologies are fueling market growth.
Given the substantial market prospects, Veeva Link’s latest expansion seems well-timed.
Veeva announced a number of developments during May 2021.
The company saw increased adoption of its Veeva Development Cloud applications by more than 650 companies. These cloud applications combine suites of unified applications for clinical, regulatory, quality and safety on a single cloud platform. Meanwhile, above 250 companies have used Veeva Vault applications across functional areas to facilitate and connect drug development and manufacturing teams. The increased adoption of Veeva’s applications mirrors an industry-wide shift to streamline drug development.
The company experienced an expansion in the number of companies that recently adopted Veeva Vault. More than 100 companies are anticipated to bring together Veeva Vault QualityDocs with Vault Training to integrate document creation and training management in a single system, thereby simplifying the development and delivery of GxP training. The implementation of Veeva Vault QMS is further expected to drive automation in business processes.
Veeva entered into a strategic partnership with Oncopeptides to use Veeva Link to aid the launch of FDA-approved PEPAXTO anticancer peptide-drug conjugate for multiple myeloma. Veeva Link is anticipated to allow quick identification and engagement with top scientific and clinical experts during pre-commercial planning to derive key market-level insights. The partnership also provides the biotech company access to Veeva’s full suite of Commercial Cloud applications, which deliver data-driven insights and facilitate smarter, compliant interactions with healthcare providers.
Share Price Performance
The stock has underperformed its industry over the past year. It has grown 34.6% compared to the industry’s growth of 35.8%.
Zacks Rank and Other Key Picks
Currently, Veeva carries a Zacks Rank #2 (Buy).
A few better-ranked stocks from the broader medical space include PetIQ, Inc. PETQ, Computer Programs and Systems, Inc. CPSI and Intuitive Surgical, Inc. ISRG, each sporting a Zacks Rank # 1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PetIQhas a long-term earnings growth rate of 25%.
Computer Programs and Systems has a long-term earnings growth rate of 14%.
Intuitive Surgical has a long-term earnings growth rate of 9.40%.
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