We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Veeva (VEEV) MedTech Suite to Aid B. Braun Speed Up Trials
Read MoreHide Full Article
Veeva Systems (VEEV - Free Report) recently announced that the Veeva Vault Clinical Operations Suite has been selected by B. Braun SE (B. Braun) with the aim of updating study management and payments to partner sites. Veeva MedTech’s industry expertise and clinical applications are likely to provide B. Braun the technology foundation to simplify studies throughout Europe, the Americas and Asia.
For investors’ note, Veeva MedTech provides unified suites of cloud applications, including the Vault Clinical, Vault Quality, Vault Regulatory, Vault Medical and Vault Commercial Content Management suites for MedTech companies to accelerate the total product lifecycle.
The growing adoption of Veeva’s unified applications is expected to provide a significant boost to the company’s Veeva Vault Clinical applications, a component of the Veeva Development Cloud products business. The Veeva Development Cloud product suite is a component of the broader unified suite of cloud-based enterprise content and data management applications — Veeva Vault.
Significance of the Adoption
Per Veeva’s management, the adoption of Veeva Vault Clinical Operations Suite is likely to strengthen its ability to support its partner B. Braun’s digital transformation. The enhancements in efficiency and study oversight are expected to help the latter conduct more clinical trials at a faster rate.
Veeva’s solutions are expected to empower B. Braun with company-wide trial visibility, control and EU Medical Device Reporting compliance support.
Industry Prospects
Per a report by Emergen Research, the global healthcare cloud computing market was estimated to be $25.90 billion in 2019 and is anticipated to reach $90.46 billion by 2027 at a CAGR of 17.9%. Factors like rising demand for cloud technology in healthcare facilities, increasing demand for cost-effective healthcare services and a shift toward value-based payments are expected to drive the market.
Given the market potential, growing adoption of the company’s MedTech applications is expected to provide a significant boost to its global business.
Notable Developments
Of late, Veeva has witnessed a few notable developments across its business.
In August, the company acquired a renowned provider of accredited GxP training for life sciences, Learnaboutgmp. The combination of Veeva Vault Training with Learnaboutgmp's robust content will now provide companies with a more efficient end-to-end training solution to achieve complete GxP compliance.
Veeva, in June, announced the availability of 11 new therapeutic areas in the Veeva Link customer intelligence platform.
In May, the company reported robust first-quarter fiscal 2022 results where both of its segments performed impressively. Veeva continued to benefit from its flagship Vault platform during the quarter and also received positive feedback on Data Cloud. The company also saw robust progress of Veeva Link in the reported quarter.
Price Performance
Shares of Veeva have gained 11.8% in the past year compared with the industry’s 8.5% growth and the S&P 500's 27.8% rise.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Veeva carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Henry Schein, Inc. (HSIC - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .
Image: Shutterstock
Veeva (VEEV) MedTech Suite to Aid B. Braun Speed Up Trials
Veeva Systems (VEEV - Free Report) recently announced that the Veeva Vault Clinical Operations Suite has been selected by B. Braun SE (B. Braun) with the aim of updating study management and payments to partner sites. Veeva MedTech’s industry expertise and clinical applications are likely to provide B. Braun the technology foundation to simplify studies throughout Europe, the Americas and Asia.
For investors’ note, Veeva MedTech provides unified suites of cloud applications, including the Vault Clinical, Vault Quality, Vault Regulatory, Vault Medical and Vault Commercial Content Management suites for MedTech companies to accelerate the total product lifecycle.
The growing adoption of Veeva’s unified applications is expected to provide a significant boost to the company’s Veeva Vault Clinical applications, a component of the Veeva Development Cloud products business. The Veeva Development Cloud product suite is a component of the broader unified suite of cloud-based enterprise content and data management applications — Veeva Vault.
Significance of the Adoption
Per Veeva’s management, the adoption of Veeva Vault Clinical Operations Suite is likely to strengthen its ability to support its partner B. Braun’s digital transformation. The enhancements in efficiency and study oversight are expected to help the latter conduct more clinical trials at a faster rate.
Veeva’s solutions are expected to empower B. Braun with company-wide trial visibility, control and EU Medical Device Reporting compliance support.
Industry Prospects
Per a report by Emergen Research, the global healthcare cloud computing market was estimated to be $25.90 billion in 2019 and is anticipated to reach $90.46 billion by 2027 at a CAGR of 17.9%. Factors like rising demand for cloud technology in healthcare facilities, increasing demand for cost-effective healthcare services and a shift toward value-based payments are expected to drive the market.
Given the market potential, growing adoption of the company’s MedTech applications is expected to provide a significant boost to its global business.
Notable Developments
Of late, Veeva has witnessed a few notable developments across its business.
In August, the company acquired a renowned provider of accredited GxP training for life sciences, Learnaboutgmp. The combination of Veeva Vault Training with Learnaboutgmp's robust content will now provide companies with a more efficient end-to-end training solution to achieve complete GxP compliance.
Veeva, in June, announced the availability of 11 new therapeutic areas in the Veeva Link customer intelligence platform.
In May, the company reported robust first-quarter fiscal 2022 results where both of its segments performed impressively. Veeva continued to benefit from its flagship Vault platform during the quarter and also received positive feedback on Data Cloud. The company also saw robust progress of Veeva Link in the reported quarter.
Price Performance
Shares of Veeva have gained 11.8% in the past year compared with the industry’s 8.5% growth and the S&P 500's 27.8% rise.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Veeva carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Henry Schein, Inc. (HSIC - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Intuitive Surgical, Inc. (ISRG - Free Report) .
Henry Schein’s long-term earnings growth rate is estimated at 13.9%. The company presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IDEXX’s long-term earnings growth rate is estimated at 19.9%. It currently has a Zacks Rank #2.
Intuitive Surgical’s long-term earnings growth rate is estimated at 9.7%. It currently carries a Zacks Rank #2.