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.
Thermo Fisher Scientific (TMO - Free Report) recently announced the launch of CorEvidence, its proprietary cloud-based data lake platform, optimizing pharmacovigilance case processing and safety data management processes. Purpose-built solutions, such as this platform, are designed to address some of the most challenging and complex pharmacovigilance business needs.
Upon acquisition in August 2023, CorEvitas is integrated into Thermo Fisher’s Laboratory Products and Biopharma Services segment. The latest development enhances CorEvitas’ clinical research registries offered by Thermo Fisher’s PPD clinical research business.
More on the News
CorEvidence’s first application supports enhanced pharmacovigilance workflow and deliverable management. It is designed to handle multiple data sources and streamline coding, classification and reporting of adverse events and safety events of interest for committed post-authorization safety studies. The platform supports a full range of pharmacovigilance deliverables with efficient, traceable, auditable, scalable and compliant safety management for customer safety commitments using data collected through CorEvitas syndicated registries.
Image Source: Zacks Investment Research
The CorEvitas acquisition is a strategic fit for Thermo Fisher’s renowned clinical research business, incorporating real-world evidence solutions. The high-growth market segment is an increasingly important area for the company’s pharmaceutical and biotechnology customers, which will help enhance decision-making and the time and cost of drug development.
CorEvitas’ comprehensive range of services includes 12 registries, including nine autoimmune and inflammatory syndicated registries. It also includes a data intelligence platform that builds and scales clinical registries across multiple therapeutic areas to gather structured patient clinical data spanning 400 investigator sites and more than 100,000 patients followed longitudinally. The CorEvitas model is being leveraged to satisfy regulatory requirements for more than 15 long-term post-authorization safety studies across eight disease indications.
Industry Prospects
Per a Research report, the global pharmacovigilance market was valued at $8 billion in 2022 and is expected to witness a CAGR of 8.7% through the 2023-2032 period.
The market is growing due to the expanding usage of outsourcing services, increasing drug development rates and rising drug consumption. Other factors propelling the market growth include the pharmaceutical industry’s high spending and an increase in adverse drug reactions and prescription errors.
Other Notable Developments
Last week, Thermo Fisher’s clinical research business was selected by BARDA (Biomedical Advanced Research and Development Authority) to support the Phase II platform clinical trial to treat ARDS (Acute Respiratory Distress Syndrome). ARDS is a life-threatening lung condition stemming from multiple causes and without any approved or licensed therapeutics presently available. The primary objective of the BARDA-funded, hypothesis-generating study is to gather comprehensive clinical and biomarker data on the ARDS patient population to better inform future clinical studies and contribute to the development of targeted therapies for ARDS.
Price Performance
Over the past year, TMO shares have decreased 3% compared to the industry’s 4.9% rise.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #4 (Sell).
Haemonetics’ stock has risen 12.3% in the past year. Earnings estimates for Haemonetics have increased from $3.86 per share to $3.89 per share in 2023 and $4.11 per share to $4.15 per share in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have moved up from $1.90 to $1.91 in the past 30 days. Shares of the company have dropped 26% in the past year compared with the industry’s decline of 2.6%.
PODD’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.43 to $1.44 in the past 30 days. Shares of the company have increased 11.2% in the past year compared with the industry’s growth of 2.1%.
DXCM’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Thermo Fisher (TMO) Unveils CorEvitas Pharmacovigilance Platform
Thermo Fisher Scientific (TMO - Free Report) recently announced the launch of CorEvidence, its proprietary cloud-based data lake platform, optimizing pharmacovigilance case processing and safety data management processes. Purpose-built solutions, such as this platform, are designed to address some of the most challenging and complex pharmacovigilance business needs.
Upon acquisition in August 2023, CorEvitas is integrated into Thermo Fisher’s Laboratory Products and Biopharma Services segment. The latest development enhances CorEvitas’ clinical research registries offered by Thermo Fisher’s PPD clinical research business.
More on the News
CorEvidence’s first application supports enhanced pharmacovigilance workflow and deliverable management. It is designed to handle multiple data sources and streamline coding, classification and reporting of adverse events and safety events of interest for committed post-authorization safety studies. The platform supports a full range of pharmacovigilance deliverables with efficient, traceable, auditable, scalable and compliant safety management for customer safety commitments using data collected through CorEvitas syndicated registries.
Image Source: Zacks Investment Research
The CorEvitas acquisition is a strategic fit for Thermo Fisher’s renowned clinical research business, incorporating real-world evidence solutions. The high-growth market segment is an increasingly important area for the company’s pharmaceutical and biotechnology customers, which will help enhance decision-making and the time and cost of drug development.
CorEvitas’ comprehensive range of services includes 12 registries, including nine autoimmune and inflammatory syndicated registries. It also includes a data intelligence platform that builds and scales clinical registries across multiple therapeutic areas to gather structured patient clinical data spanning 400 investigator sites and more than 100,000 patients followed longitudinally. The CorEvitas model is being leveraged to satisfy regulatory requirements for more than 15 long-term post-authorization safety studies across eight disease indications.
Industry Prospects
Per a Research report, the global pharmacovigilance market was valued at $8 billion in 2022 and is expected to witness a CAGR of 8.7% through the 2023-2032 period.
The market is growing due to the expanding usage of outsourcing services, increasing drug development rates and rising drug consumption. Other factors propelling the market growth include the pharmaceutical industry’s high spending and an increase in adverse drug reactions and prescription errors.
Other Notable Developments
Last week, Thermo Fisher’s clinical research business was selected by BARDA (Biomedical Advanced Research and Development Authority) to support the Phase II platform clinical trial to treat ARDS (Acute Respiratory Distress Syndrome). ARDS is a life-threatening lung condition stemming from multiple causes and without any approved or licensed therapeutics presently available. The primary objective of the BARDA-funded, hypothesis-generating study is to gather comprehensive clinical and biomarker data on the ARDS patient population to better inform future clinical studies and contribute to the development of targeted therapies for ARDS.
Price Performance
Over the past year, TMO shares have decreased 3% compared to the industry’s 4.9% rise.
Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Insulet (PODD - Free Report) and DexCom (DXCM - Free Report) . Haemonetics and DexCom each presently carry a Zacks Rank #2 (Buy), and Insulet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Haemonetics’ stock has risen 12.3% in the past year. Earnings estimates for Haemonetics have increased from $3.86 per share to $3.89 per share in 2023 and $4.11 per share to $4.15 per share in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 16.1%. In the last reported quarter, it posted an earnings surprise of 5.3%.
Estimates for Insulet’s 2023 earnings per share have moved up from $1.90 to $1.91 in the past 30 days. Shares of the company have dropped 26% in the past year compared with the industry’s decline of 2.6%.
PODD’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 105.1%. In the last reported quarter, it delivered an average earnings surprise of 77.4%.
Estimates for DexCom’s 2023 earnings per share have increased from $1.43 to $1.44 in the past 30 days. Shares of the company have increased 11.2% in the past year compared with the industry’s growth of 2.1%.
DXCM’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 36.4%. In the last reported quarter, it delivered an average earnings surprise of 47.1%.