Veeva Vault Picked by AstraZeneca for Quality Management

Veeva Systems Inc. VEEV recently announced that AstraZeneca has selected Veeva Vault QMS and Veeva Vault QualityDocs to combine quality management and content on a single cloud platform.

For investors’ note, AstraZeneca is a leading, science-led biopharmaceutical company that specializes in the development and commercialization of prescription medicines, mainly for the treatment of diseases in three therapy areas viz. Oncology, Cardiovascular, Renal & Metabolism, and Respiratory & Immunology.

This development is expected to enhance Veeva Systems’ commitment toward strengthening its cloud-based software. Moreover, this will encourage the company to continue to make efforts to support industry collaborations in life sciences.

More on the Development

Veeva Vault Quality Suite helps AstraZeneca simplify quality processes across the enterprise, improving real-time visibility, proficiency, and speed.

Driving manufacturing agility through automation is paramount to AstraZeneca’s strategic digital transformation initiative. With the Vault Quality Suite, AstraZeneca can easily tie-up with external suppliers and partners to enhance transparency and ensure faster delivery of drugs to patients.

Veeva Vault Quality Suite helps to unify quality,document and training management applications to automate and harmonize quality processes across the globe.The partnership with AstraZeneca will facilitate end-to-end quality management for Veeva.

Market Prospects

Per a report by MarketsandMarkets, the global cloud computing market size is expected to rise from $371.4 billion in 2020 to $832.1 billion by 2025, at a CAGR of 17.5%.

Recent Developments

In June 2020, Veeva announced a new capability in Veeva Vault PromoMats that would help expedite the digital submission of promotional materials for accelerated approval products. Vault PromoMats will automatically generate submission-ready forms to simplify packaging promotional materials to send via eCTD (Electronic Common Technical Document) to the FDA.

In fact, three other companies specializing in commercial cloud offerings are ResMed,Inc. RMD, Change Healthcare Inc. CHNG and Allscripts Healthcare Solutions, Inc. MDRX.

In July 2020, Allscripts extended its long-standing strategic alliance with Microsoft for five years. The deal will enable expanded development and delivery of cloud-based health IT solutions. The five-year extension will make Microsoft the cloud provider to Allscripts’ cloud-based Sunrise electronic health record (EHR) solution.

In May, Resmed launched cloud-based remote monitoring software for ventilators and Lumis bilevel devices across Europe, via its AirView platform.

In July, Change Healthcare introduced its clinical data retrieval service, which is a new cloud-based interoperability solution that helps payers and a broader range of organizations to instantly get the patient care data required in an integrated electronic fashion. This, in turn, will aid in the verification of claim accuracy, paying claims, managing risk profiles, satisfying quality reporting requirements and optimizing interventions.

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