Veeva Systems, Inc.
VEEV
recently inked a deal with Impel NeuroPharma to accelerate pre-launch preparation for Impel’s migraine treatment INP104. Notably, INP104 is FDA-approved and will be marketed under the trade name TRUDHESA.
Impel will leverage Veeva’s software, data, and consulting to accelerate pre-launch planning and digital-first commercial execution for migraine treatment.
For investors’ note, Impel NeuroPharma is a Seattle-based biopharmaceutical company dedicated on developing transformative therapies for people living with central nervous system (CNS) and other disorders with high unmet medical needs.
With this latest development, Veeva is likely to strengthen its portfolio of cloud-based offerings.
TRUDHESA at a Glance
TRUDHESA has been developed by Impel with the goal to be a transformative new therapy for the acute treatment of migraine headaches. In January, TRUDHESA was accepted by the FDA for review. Impel is expecting to gain approval by the end of the year.
More About the Collaboration
Veeva is a proven technology provider and the ideal partner to help Impel meet aggressive commercial timelines. Impel will leverage Veeva Commercial Cloud to have a complete commercial suite of data, software, and consulting services to drive strategy and accelerate field engagement.
Veeva will help Impel accelerate market engagement by deploying Veeva CRM to act as foundation for in-person and digital engagement with physicians and Veeva Data Cloud for longitudinal patient data to effectively segment right patients groups. Additionally, Veeva’s business consulting will help design and implement customer-centric strategies that will allow Impel to increase the value of targeted interactions with healthcare professionals.
Backed by an advanced technology foundation, Impel accelerates the industry’s move to digitalization and enhance the delivery of novel medicines to patients, improving overall patient experience.
Notable Development
Veeva continues to boost cloud-based offerings by deploying its expertise to several businesses.
In December 2020, Veeva announced that
Integra LifeSciences Holding Corporation
IART
has picked Veeva Vault CDMS to provide electronic data capture, coding, data cleaning, and reporting for future clinical trials. With Vault CDMS, Integra LifeSciences can shorten database build times for their studies.
During the same month, Veeva announced that Samsung Biologics has deployed Veeva Vault Quality Management Software to simplify quality management on a singular cloud platform. As part of the Veeva Vault Quality Suite, Samsung Biologics is driving quality process and content management for enhanced visibility across its global processes.
Further, the company announced that Simbec-Orion is adopting Veeva Vault clinical trial management system (CTMS) and Veeva Vault (electronic trial master file) (eTMF) to digitize end-to-end clinical trial data, workflows and documents.
Industry Prospects
Per a report by Grand View Research
, the global cloud computing market size was valued at $266.0 billion in 2019 and is expected to see a CAGR of 14.9% by 2027. Growing digital transformation among industries, increase in penetration of Internet and mobile devices globally, and consumption of big data are the primary factors driving this market.
Price Performance
Shares of the company have gained 101% in a year’s time compared with the
industry
’s growth of 103%.
Zacks Rank and Key Picks
Currently, Veeva carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the same medical space are
Calix, Inc
CALX
and
Castlight Health, Inc.
CSLT
, both carrying a Zacks Rank #2 (Buy). You can see
the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Calix has projected long-term earnings growth rate at 39%.
Castlight Health has projected long-term earnings growth rate at 10%.
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