Veeva Systems Inc. reports developments in cloud software, data, AI, and consulting for the life sciences industry. Company news commonly covers adoption of the Veeva Vault Platform, including Development Cloud, Quality Cloud, Commercial Cloud, Data Cloud, Vault CRM, and Veeva MedTech applications for clinical, regulatory, quality, commercial, and medical operations.
Updates also include customer standardization projects with pharmaceutical, biotechnology, medical device, and diagnostics companies; product and data offerings such as Link Key People and Veeva AI; fiscal results and subscription revenue trends; and corporate actions such as acquisitions, including the completed purchase of Ostro as a life sciences brand engagement platform.
Veeva Systems will announce its third fiscal quarter results for 2022 on December 1, 2021, after market close. The company will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) to discuss the financial results. Prepared remarks will be available on its investor relations website approximately 55 minutes before the call. Veeva, a leader in cloud software for the life sciences sector, serves over 1,000 customers worldwide, including major pharmaceutical companies and emerging biotechs.
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Veeva Systems (NYSE: VEEV) announced the adoption of its Vault Safety Suite by over 50 organizations, including a top global pharmaceutical company, simplifying case processing and pharmacovigilance management. The suite enhances collaboration and provides real-time safety management, benefiting sponsors and CROs with seamless adverse event processing. New features, such as a MedDRA multilingual browser and E2B import capabilities, have been added to improve efficiency. Veeva continues to commit to innovation and customer success in the life sciences industry.
Veeva Systems (NYSE: VEEV) announced that the adoption of its Veeva Vault CDMS by biotechs for oncology trials has more than doubled over the past year. The platform offers flexibility and speed, enabling data managers to make real-time study amendments without downtime, which is crucial for complex oncology studies. Over 40% of new studies awarded to Veeva in 2021 are oncology trials, benefiting from the ease of use and efficiency of Vault CDMS, which has been utilized in over 250 trials.
Veeva Systems has launched the TMF Bot, an AI-powered feature integrated into the Veeva Vault eTMF, designed to enhance trial management efficiency by automating document classification. Since its release, the TMF Bot has auto-classified over 40,000 documents across six customers, significantly reducing processing time. This innovation addresses challenges related to document misfiling and aims to streamline clinical trial processes, allowing study teams to focus on high-value activities while improving overall TMF accuracy and compliance.
Veeva Systems has launched the Veeva Digital Trials Platform, a technology ecosystem aimed at transforming clinical trial execution. This platform connects patients, research sites, and trial sponsors, enhancing data accuracy and diversity in trials. Key components include the Vault Clinical Suite, SiteVault Free, and MyVeeva for Patients. Early adopters, including major pharma companies, are already utilizing the platform to streamline operations and improve collaboration.
Veeva Systems (NYSE: VEEV) will hold a virtual Financial Analyst and Investor Day on October 28, 2021, from 9:00 a.m. PT to 11:00 a.m. PT. The event will be streamed live on the company's investor relations website, with an archived webcast available later. Registration for the event can be completed online. Veeva's commitment to the life sciences sector includes serving over 1,000 customers and prioritizing stakeholders' interests.
Veeva Systems announced that Celerion has adopted Veeva eConsent for its Phase I clinical trials, transitioning to a digital informed consent process. This shift aims to streamline participant engagement and ensure compliance with regulatory requirements. Over 200 subjects have been consented using this solution. The transition received positive feedback from study teams and participants, highlighting improved comprehension and reduced administrative burdens. Celerion also utilizes Veeva SiteVault for managing informed consent forms, enhancing visibility into consent status.
LEO Pharma and Veeva Systems have announced a strategic partnership aimed at enhancing clinical trials through a patient-centric, paperless approach. LEO Pharma will standardize its operations using Veeva's Clinical Operations Suite, including various integrated clinical products. Key benefits expected include a 25% reduction in clinical trial costs and duration, while improving patient experience and data accuracy. This collaboration aligns with LEO Pharma’s 2030 strategy to expedite innovative treatment delivery.
Veeva Systems (NYSE: VEEV) unveiled the Veeva Vault LIMS, a new cloud application aimed at enhancing quality control lab operations. This addition to the Vault Quality Suite will connect lab functions with the quality ecosystem, streamlining processes for faster batch releases and lower inventory costs. Industry leaders highlight the solution’s potential to improve lab productivity and accelerate testing accuracy. Vault LIMS is scheduled for launch in the second half of 2022.