A Growing Number of Biopharmas Leverage Veeva Compass Patient to Improve Commercialization
Rhea-AI Summary
Veeva Systems (NYSE: VEEV) announced growing adoption of Veeva Compass Patient, their anonymous patient longitudinal data solution. The platform provides unlimited access to daily data, covering both retail and specialty brands, helping commercial teams optimize patient journey analysis, market sizing, and field force activation.
The Compass data network encompasses over 300 million U.S. patients, 3+ million healthcare providers and clinicians, 80+ billion prescription and medical records, and more than seven years of patient history. Bayer has implemented the solution across multiple brands, reporting enhanced ability to identify HCPs and patients compared to traditional sources.
The Veeva Compass Suite includes Prescriber and National modules, offering projected prescriptions and procedures data at various levels, and is part of the broader Veeva Data Cloud platform.
Positive
- Access to extensive data network covering 300M+ patients and 80B+ medical records
- Growing adoption by major pharmaceutical companies like Bayer
- Comprehensive coverage of both retail and specialty brands
- Unlimited data access at brand level
Negative
- None.
News Market Reaction – VEEV
In the trading session that priced this news, VEEV declined 0.59%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Modern commercial data helps organizations find new patients and HCPs
"We are using Veeva Compass Patient for many of our brands as it helps us find more HCPs and patients than traditional sources," said Sridutta Rao, executive director of commercial data and analytics solutions at Bayer. "Having unlimited access to a complete and modern dataset to generate insights for both retail prescriptions and in-office treatments gives us a better understanding of the entire patient journey."
Compass Patient is licensed for use at the brand level and includes unlimited data access to all patient data. The Compass data network includes more than 300 million patients in the
"Veeva Compass Patient is the next generation of patient data for life sciences," said Peter Stark, executive vice president and general manager of Veeva Compass. "I'm excited to see our customer community growing and driving so much value through our partnership."
Veeva Compass Suite includes Veeva Compass Prescriber, projected prescriptions and procedures at the HCP, HCO, and ZIP level for retail and non-retail products, and Veeva Compass National, projected prescriptions and procedures at the state and national level for retail and non-retail products. Veeva Compass is part of Veeva Data Cloud, the modern, connected data platform for life sciences, which includes Veeva OpenData and Veeva Link.
Additional Information
For more on Veeva Compass, visit: veeva.com/Compass
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.
Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10- Q for the period ended October 31, 2024, which you can find here (a summary of risks which may impact our business can be found on pages 36 and 37), and in our subsequent SEC filings, which you can access at sec.gov.
Contact:
Alison Borris
Veeva Systems
925-226-8821
alison.borris@veeva.com
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SOURCE Veeva Systems