Yahoo Finance Veeva's (VEEV) Vault EDC to Boost Vita Global's Data Management
Veeva System VEEV recently announced a partnership with Vita Global Sciences that will help the latter to improve its clinical data management processes as well as collaboration with key trial stakeholders.
Vita Global is set to use Veeva Vault electronic data capture (EDC) to deliver a better experience to patients, research sites, and sponsors. With Veeva’s Vault EDC, Vita Global is likely to establish a foundation for study efficiency and faster study builds.
The latest adoption of Veeva Vault EDC, part of the Veeva Clinical Platform, is likely to provide a boost to the Veeva Development Cloud business.
More on the News
Vita Global intends to use Vault EDC to plan and execute intricate research projects for its sponsor clients. In the future, the company also expects to use Veeva RTSM to randomize patients and enhance trial supply management, as well as Veeva Clinical Database (CDB) to compile and clean data from all sources.
Owing to collecting insights and control over trial data, Vita Global can now conduct the studies per the client’s desire. By combining contemporary clinical data management software with a single platform, the business may increase speed and accuracy by reducing manual operations.
More on Veeva Vault EDC
Vault EDC offers a comprehensive environment for gathering, examining, and handling patient trial data.
At the initiation of a study, Vault EDC is used to design patient forms without the need for custom programming. While executing the study, Vault EDC collects all patient form data, local labs, and medical coding. At the end of the study, Vault EDC provides data lock and post-processing features, including end-of-study media creation and archiving.
Vault EDC is part of Veeva Vault Clinical Data Management, bringing together EDC and Veeva CDB for next-generation clinical data management. In January 2024, the company announced a top 20 biopharma and Veeva Services that migrated 25 ongoing clinical studies to Veeva Vault EDC from a legacy EDC application. In March 2024, Veeva announced that Veeva Vault EDC powered more than 1,000 study starts.
Industry Prospects
Per a report by Introspective Market Research, the global clinical data management system market is expected to grow from $2.3 billion in 2022 to $5.42 billion by 2030 at a growth rate of 11.3%. Factors like the rising number of clinical trials and the integration with other healthcare technologies are expected to drive the market.
Given the market potential, the latest product adoption is expected to boost Veeva’s business globally.
Notable Developments
Last month, Veeva announced its first-quarter fiscal 2025 results, wherein management confirmed that three top 20 biopharmas had selected multiple Veeva Development Cloud Applications during the quarter.
The same month, Veeva announced the availability of Veeva Vault Basics, a new offering that includes technology, training and support designed for biotechs. It is presently available for North America and includes Vault eTMF Basics, Vault QualityDocs, Training Basics and Vault Submissions and Submissions Archive Basics.
In April, Veeva announced the Veeva AI Partner Program, which is set to provide partners with the advanced technology and support needed to integrate Generative AI solutions seamlessly with Veeva Vault applications.
Price Performance
For the past six months, VEEV’s shares have lost 4.4% against the industry’s rise of 11.9%. The S&P 500 increased 15.7% in the same time frame.
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Zacks Rank & Stocks to Consider
VEEV carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space that have announced quarterly results are DaVita DVA, Ecolab ECL and Boston Scientific Corporation BSX.
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 44% compared with the industry’s 20.4% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 1.7%.
Ecolab’s shares have rallied 33.8% against the industry’s 9.3% decline in the past year.
Boston Scientific reported first-quarter 2024 adjusted earnings per share of 56 cents, which beat the Zacks Consensus Estimate by 9.8%. Revenues of $3.86 billion surpassed the Zacks Consensus Estimate by 4.9%. It currently carries a Zacks Rank #2.
Boston Scientific has a long-term estimated growth rate of 12.5%. BSX’s earnings surpassed estimates in the trailing four quarters, the average surprise being 7.5%.
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