Shares of IQVIA Holdings Inc. IQV have gained 32.1% year to date, outperforming the 15.9% rise of the industry it belongs to and 18.5% increase of the Zacks S&P 500 composite.
The company recently announced the launch of IQVIA SmartSolve Enterprise Quality Management Solution (EQMS). It is claimed to be the first EQMS to offer expanded quality, safety compliance and regulatory capabilities to comply with the new European Union Medical Device Regulation 2017/745/EU (EU MDR).
New regulations that will be effective on May 26, 2020, require increased device traceability throughout the supply chain and product lifecycle. MDR actually aims at increasing use and speed of clinical evaluations and data evidence, and detailed reporting.
The EQMS offers support for the new Manufacturer Incident Report (MIR) requirements and timelines, improved design control functionality, and extended risk management capabilities.
We believe the move will help IQVIA strengthen its Technology & Analytics Solutions segment, which delivers critical information, technology solutions and real-world insights and services to its life science customers. Revenues from the segment increased 9% year over year on a reported basis and 11.4% on a constant-currency basis in second-quarter 2019.
Tal Rosenberg, senior vice president at IQVIA’s Technology Solutions, stated, “IQVIA Quality Compliance and our Vigilance and Safety teams have extensive experience to support customers as they work to become MDR compliant.”
Bhavik Patel, senior vice president at IQVIA MedTech, stated, “The European Union Medical Device Regulation and the comparable regulatory changes for in vitro diagnostics present the largest impact on the industry in its history, and this impact is not limited to companies operating within the EU.”
Zacks Rank & Stocks to Consider
IQVIA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the broader Zacks Business Services sector are Huron Consulting HURN, Charles River Associates CRAI and Fiserv FISV. While Fiserv sports a Zacks Rank #1, Huron Consulting and Charles River Associates carry a Zacks Rank #2 (Buy). Long-term earnings (three to five years) growth rate for Huron Consulting, Charles River Associates and Fiserv is estimated 13.5%, 13% and 12%, respectively.
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