Veeva Announces Collaboration with Global Biotech to Further Accelerate Clinical Trial Innovation

Rhea-AI Summary

Veeva Systems (NYSE:VEEV) has announced a strategic collaboration with Amgen to enhance clinical trial innovation. Amgen will implement the Veeva Clinical Platform to optimize their clinical trial processes and accelerate drug development for serious diseases.

The collaboration includes implementation and change management support from Veeva Business Consulting. Amgen's CIO Scott Skellenger highlighted that this partnership aims to unlock new capabilities for end-to-end trial operations, while Veeva Development Cloud President Jim Reilly emphasized the platform's role in speeding up drug delivery through standardized and connected processes.

Positive

• Partnership with major biotech company Amgen strengthens Veeva's market position
• Expansion of Veeva Clinical Platform adoption in the biotechnology sector
• Additional consulting services revenue through implementation support

Negative

• None.

News Market Reaction

-7.24% 3.6x vol

46 alerts

-7.24% News Effect

-3.5% Trough in 7 hr 8 min

-$3.74B Valuation Impact

$47.98B Market Cap

3.6x Rel. Volume

On the day this news was published, VEEV declined 7.24%, reflecting a notable negative market reaction. Argus tracked a trough of -3.5% from its starting point during tracking. Our momentum scanner triggered 46 alerts that day, indicating elevated trading interest and price volatility. This price movement removed approximately $3.74B from the company's valuation, bringing the market cap to $47.98B at that time. Trading volume was very high at 3.6x the daily average, suggesting heavy selling pressure.

Data tracked by StockTitan Argus on the day of publication.

PLEASANTON, Calif., Aug. 28, 2025 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today announced a collaboration with Amgen to advance clinical trial innovation. As a global leader in biotechnology, Amgen will employ the Veeva Clinical Platform to support and identify efficiencies across the clinical trial process, building on the company's commitment to accelerating the development of new medicines for patients with serious diseases.

"In collaboration with Veeva, we're leveraging advanced technology to unlock new capabilities for our end-to-end trial operations which are expected to further strengthen our ability to bring innovative treatments to patients with speed and scale," said Scott Skellenger, senior vice president and chief information officer at Amgen.

"We're excited to help Amgen further advance clinical development. Veeva Clinical Platform will provide the backbone for standard and connected processes that can speed the delivery of life-saving drugs to patients in need," said Jim Reilly, president of Veeva Development Cloud.

As part of the collaboration, Veeva Business Consulting will support Amgen through implementation and change management.

About Veeva Clinical Platform
Veeva Clinical Platform is a complete and connected platform across clinical operations and data applications. This end-to-end platform includes CTMS, EDC, clinical workbench (CDB), RTSM, eCOA, eTMF, Site Connect, Study Training, and more. Connected products streamline clinical trials from study start-up to close and automate a connected data flow. To learn more about Veeva Clinical Platform, visit veeva.com/VeevaClinicalPlatform.

About Veeva Systems
Veeva delivers the industry cloud for life sciences with software, data, and business consulting. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,500 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 April 30, 2025, which you can find here (a summary of risks which may impact our business can be found on pages 32 and 33), and in our subsequent SEC filings, which you can access at sec.gov.

Contact:
Deivis Mercado
Veeva Systems
925-226-8821
deivis.mercado@veeva.com 

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SOURCE Veeva Systems

FAQ

What is the new collaboration between Veeva Systems (NYSE:VEEV) and Amgen?

Veeva Systems and Amgen are collaborating to advance clinical trial innovation, with Amgen implementing the Veeva Clinical Platform to optimize trial processes and accelerate drug development.

How will the Veeva Clinical Platform benefit Amgen's operations?

The platform will provide capabilities for end-to-end trial operations, enabling Amgen to bring innovative treatments to patients with increased speed and scale.

What support services is Veeva providing to Amgen in this collaboration?

Veeva Business Consulting will provide implementation and change management support to Amgen throughout the collaboration.

Who are the key executives involved in the Veeva-Amgen collaboration?

Scott Skellenger, Senior VP and CIO at Amgen, and Jim Reilly, President of Veeva Development Cloud, are the key executives mentioned in the collaboration.