Yahoo Finance Veeva Systems (VEEV)-LYSARC Partner to Advance Lymphoma Therapy
Veeva Systems Inc. VEEV recently announced that the Veeva Development Cloud has been selected by the Lymphoma Academic Research Organization (LYSARC) to enhance operational efficiency across its lymphoma therapy research. Through the collaboration, LYSARC will develop a robust, connected technology foundation, utilizing applications in Vault Clinical, Vault Quality and Vault Safety suites, thereby allowing faster execution, higher quality data and improved oversight.
LYSARC, the operational structure of LYSA, standardizes clinical processes with Vault CDMS, Vault CTMS, Vault eTMF, Vault Study Start-up and Vault Payments. In addition, the organization is leveraging Vault QMS, Vault QualityDocs, and Vault Training to streamline quality processes. The organization is also mitigating risk by employing Vault Safety.
This collaboration is likely to bolster the company’s product portfolio. Management at Veeva Systems looks forward to assisting LYSARC in developing novel lymphoma research and therapies.
Strategic Benefits of the Collaboration
LYSARC is the largest European academic organization dedicated to lymphoma clinical research. The use of Veeva Development Cloud provides the organization with a single connected platform that can free its staff from time-consuming tasks and enable them to focus on scientific excellence for the benefit of lymphoma patients.
Management at LYSARC expects the partnership with Veeva Systems to advance its digital transformation for increased scalability and speed in the quest of developing innovative lymphoma therapies or improving existing ones.
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Veeva Development Cloud can combine clinical, quality, and safety operations for end-to-end business processes and execution. Meanwhile, LYSARC can improve the patient trial experience, assure alignment with standard operating procedures across stakeholders, and lower clinical trial costs and lead times with a digital and unified systems landscape.
Interestingly, LYSARC will promote the Veeva SiteVault Free to its network of partners to enable seamless information sharing with site investigators and sponsors.
Industry Prospects
Per a report published in Grand View Research, the global lymphoma treatment market is expected to see a CAGR of 9.5% by 2026. Factors such as increasing research activities for the development of new treatments, rising product line extension and growing commercialization of novel drugs are expected to fuel market growth. Hence, this collaboration is well-timed.
Notable Developments
Veeva Systems engaged in a number of developments in December 2021.
The company acquired Veracity Logic — a cloud software provider for randomization and trial supply management (RTSM). The team at Veracity Logic will join Veeva Systems to provide industry-leading software and services that can enable companies to streamline complex processes and accelerate clinical trials. The transaction will likely strengthen Veeva Systems’ clinical offering with flexible and user-friendly RTSM abilities.
Veeva Systems announced that the hematology/oncology therapy developer PharmaEssentia has adopted the former’s Veeva Data Cloud to support the launch of BESREMi — a latest therapy for polycythemia vera, a rare type of blood cancer. Veeva Data Cloud provides longitudinal U.S. patient data for retail and specialty distribution channels for commercial use cases. The Veeva Data Cloud (powered by the Crossix Data Platform) brings together varied data assets.
Share Price Performance
The stock has declined 22.3% versus the industry’s 39.4% fall over the past year.
Zacks Rank and Key Picks
Currently, Veeva carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space include Baxter International Inc. BAX, Hologic, Inc. HOLX and Cerner Corporation CERN.
Baxter, currently carrying a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 9.5%. Baxter’s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 10.2%, on average. You can see the complete list of today’s Zacks #1 Rank stocks here.
Baxter has outperformed the industry over the past year. BAX has gained 7.3% against a 15% decline of the industry in the said period.
Hologic, carrying a Zacks Rank #2 (Buy) at present, has a long-term earnings growth rate of 7.4%. The company surpassed earnings estimates in three of the trailing four quarters and missed another occasion, delivering an average surprise of 29.2%.
Hologic has declined 7.1% compared with the industry’s 10.4% drop over the past year.
Cerner, carrying a Zacks Rank #2 at present, has a long-term earnings growth rate of 12.8%. Cerner’s earnings surpassed estimates in three of the trailing four quarters and met estimates on another occasion, delivering an average surprise of 3.2%.
Cerner has gained 13.9% against the industry’s 57.2% slump over the past year.
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