Cognizant Collaborates with Alnylam as Technology Services Partner to Scale IT Operations

Rhea-AI Summary

Cognizant (CTSH) has announced a new IT Managed Services partnership with Alnylam Pharmaceuticals, a leading RNAi therapeutics company. As the primary IT services provider, Cognizant will manage Alnylam's global infrastructure, operations, cloud, security, platforms, applications, and advanced data analytics. The collaboration aims to enhance automation, reduce operational efforts, and improve business decision transparency using Cognizant's managed services frameworks and tools. This partnership leverages Cognizant's experience working with 30 top global pharmaceutical companies to implement and manage advanced technology solutions.

Positive

• Strategic partnership with a leading biopharmaceutical company expanding Cognizant's life sciences portfolio
• Addition of comprehensive IT services contract covering multiple technology areas
• Strengthens position in pharmaceutical sector where Cognizant already serves 30 top global companies

Negative

• None.

Insights

Technology Industry Analyst

This strategic IT partnership marks a significant expansion of Cognizant's footprint in the lucrative pharmaceutical sector. The deal encompasses comprehensive IT services including infrastructure, cloud, security and advanced analytics - representing a substantial long-term revenue stream. While specific financial terms aren't disclosed, enterprise-wide IT management contracts with major pharma companies typically generate $50-100 million in annual recurring revenue.

The partnership strengthens Cognizant's position in the life sciences vertical, where it already serves 30 of the top global pharmaceutical companies. The focus on AI and automation aligns with high-margin next-gen IT services, potentially improving profit margins. For investors, this demonstrates Cognizant's continued ability to win large, strategic deals in a competitive market while expanding its healthcare/pharma portfolio, which typically offers better margins than traditional IT services.

Utilizing Cognizant's top-tier managed services frameworks and tools, the partnership aims to enhance Alnylam's automation and reduce operational efforts

TEANECK, N.J., Oct. 29, 2024 /PRNewswire/ -- Cognizant (Nasdaq: CTSH) announced today a new agreement with Alnylam Pharmaceuticals, Inc., a leading biopharmaceutical company and the pioneer in RNA interference (RNAi) therapeutics. Cognizant will serve as an integral IT Managed Services provider for Alnylam. This collaboration aims to scale Alnylam's IT operations and accelerate its capabilities in delivering transformative medicines.

Cognizant has been selected as the technology partner responsible for managing Alnylam's global infrastructure and operations, cloud, security, platforms, applications, and advanced data analytics. Leveraging Cognizant's managed services frameworks and tools, the collaboration aims to improve automation, reduce operational efforts, and ensure transparency in business decisions and unified performance accountability.

"By leveraging Cognizant's expertise in the life sciences sector and innovative managed services frameworks, we will aim to accelerate our business outcomes and ultimately improve customer experiences," said Larry Egan, Vice President of Strategic Technologies at Alnylam. 

Thirty of the top global pharmaceutical companies work with Cognizant to implement and manage advanced technology solutions, enabling them to bring their innovative drugs to market, run global supply chains and manufacturing systems, and comply with complex regulations.

"We are thrilled to partner with Alnylam on its IT transformation journey," said Cognizant's Mohammad Haque, SVP, Global Large Deals Lead and BU Head, Life Sciences. "We will bring our extensive experience with large pharmaceutical companies, along with investments in AI, to accelerate Alnylam's business goals. As a strategic partner, we look forward to helping Alnylam grow its business and continue delivering transformative medicines to treat both rare and prevalent diseases."  

About Cognizant
Cognizant (Nasdaq: CTSH) engineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. See how at www.cognizant.com or @cognizant.

Contact:
Natalie Steffen
Natalie.Steffen@cognizant.com

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SOURCE Cognizant Technology Solutions

FAQ

What services will Cognizant (CTSH) provide to Alnylam Pharmaceuticals?

Cognizant will provide comprehensive IT Managed Services, including global infrastructure and operations, cloud, security, platforms, applications, and advanced data analytics management.

How many pharmaceutical companies does Cognizant (CTSH) currently work with?

Cognizant works with 30 of the top global pharmaceutical companies, implementing and managing advanced technology solutions.

What are the main objectives of the Cognizant (CTSH) and Alnylam partnership?

The partnership aims to scale Alnylam's IT operations, improve automation, reduce operational efforts, and ensure transparency in business decisions and unified performance accountability.