Veeva Systems Inc.VEEV recently announced that its cloud-based Veeva Vault Clinical Suite has been picked by Massachusetts-based Ora, Inc. to be merged with clinical systems and processes. This will help streamline clinical operations for Ora - one of the leading global full-service ophthalmic CROs (Contract Research Organization).
Notably, the Veeva Vault Clinical Suite platform transforms clinical operations and data management with modern applications for Electronic Data Capture, Clinical Trial Management System (CTMS), Electronic Trial Master File (eTMF) and Study Startup. Veeva Systems' suite of clinical applications has been built on the Veeva Vault Platform.
The CTMS, eTMF and Study Startup applications will be unified into one platform by Ora to improve operational efficiency and visibility in clinical trials.
Veeva Systems Inc. Price and Consensus
Veeva Vault Clinical Suite helps clinical teams share trial documents and data to make better and informed decisions with ease. It reduces manual effort and ensures delivery of information in real-time.
The Tie-Up With Ora
This is not the first alliance between Veeva Systems and Ora. Earlier, Veeva Systems had collaborated with Ora to integrate its flagship platforms into the latter's systems. The first move started with Ora integrating Veeva Vault eTMF into its clinical environment so as to aid clinical teams manage documents and processes in real-time.
Addition of the Veeva Vault Study Startup enabled Ora to speed up global site selection and activation. Inclusion of the Veeva Vault CTMS also allows clinical teams to gain a detailed insight into the trial lifecycle for proactive trial management.
Per Veeva Systems' management, the continued partnership with Ora is strategic as CROs are shifting their focus to simplify clinical operations.
eClinical Solutions Market
Per MarketsandMarkets, the eClinical Solutions market is expected to grow to $7.61 billion from 2017 to 2022, at a CAGR of 12.4%.
Increasing clinical research activities and a shift from manual data interpretation to real-time data analysis in clinical studies are major growth drivers.
Thus, Veeva Systems' move is viewed as a well-timed and strategic one.
In the past year, Veeva Systems has outperformed its industry in terms of price. The stock has rallied 76% compared with the industry's 36.7%.
Zacks Rank & Other Key Picks
Veeva Systems sports a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks in the broader medical space are Bio-Rad laboratories, Inc. BIO , PetMed Express, Inc. PETS and Centene Corporation CNC . Each of these stocks carries a Zacks Rank #1. You can see the complete list of today's Zacks #1 Rank stocks here.
Bio-Rad has a long-term expected growth rate of 20%. The stock has gained 21.4% in the past six months.
PetMed has a long-term expected growth rate of 10%. The stock has rallied a whopping 139.8% in the past year.
Centene has a long-term expected growth rate of 14.4%. The stock has returned 46.2% in the past year.
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