Yahoo Finance Veeva Systems (VEEV) Offerings Adopted by Minaris Regenerative
Veeva Systems Inc. VEEV recently announced that Minaris Regenerative Medicine selected Veeva Vault QualityDocs and Veeva Vault Training to advance its global quality operations. Minaris Regenerative Medicine is expected to use Veeva Systems’ unified quality applications to better collaborate with customers and partners, improve transparency across functions and ensure compliance.
It is worth mentioning that Minaris Regenerative Medicine is a renowned contract development and manufacturing organization (CDMO) focused on cell and gene therapies.
The latest adoption is likely to provide a significant boost to the Veeva Vault Quality Suite applications under the Veeva Development Cloud solutions. Notably, the Veeva Development Cloud solutions belong to the broader Life Sciences segment.
Significance of the Adoption
The Veeva platform will likely aid Minaris Regenerative Medicine to advance its ability to improve cell therapy for the benefit of both its clients and patients suffering from a wide range of diseases, for which cell and gene therapy holds promise. The CDMO is expected to use Veeva Vault Quality Suite applications to modernize its operations and streamline its quality processes globally. This includes Vault QualityDocs to control access and distribution of content and Vault Training to create and manage role-based learning programs.
Per Veeva Systems’ management, Veeva Vault Quality applications will likely be crucial in supporting quality for cell therapies being developed and manufactured by Minaris Regenerative Medicine to treat cancers and genetic disorders that do not have any known cures. Management also believes that the partnership will likely aid the CDMO to transform content and employee qualification management.
Minaris Regenerative Medicine’s management believes that Veeva Systems provides it with easy access to documentation and training for more agility on site. Hence, being on the same platform as many of its customers will likely deliver efficiencies in information sharing and reporting and improved workflow with clients.
Industry Prospects
Per a report by BCC Research, the global market for cell and gene therapy is expected to grow from $4.1 billion in 2021 to $17.4 billion by 2026, at a CAGR of 33.6%. Factors like the increasing incidence of chronic diseases, the expanding application for cell and gene therapies and technological advancements are expected to drive the market.
Given the market potential, the latest product adoption is expected to boost Veeva Systems’ business globally.
Recent Developments
This month, Veeva Systems announced a collaboration with UCB, which is expected to focus on technology-driven solutions aimed at improving the patient experience and trial efficiency. Per the partnership terms, UCB will be adopting Veeva ePRO and Veeva eConsent.
The same month, the company announced the availability of Veeva Link MedTech. It is a data application developed for MedTech companies to identify scientific experts, personalize engagement and map activities across the healthcare ecosystem.
Again, in May, Veeva Systems announced that Sanofi is implementing Veeva Vault QMS and Veeva Vault QualityDocs to modernize quality management across the company, including consumer healthcare.
Price Performance
Shares of the company have lost 5.3% in the past year against the industry’s 1.6% decline and the S&P 500's 0.4% growth.
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Zacks Rank & Key Picks
Currently, Veeva Systems carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. HOLX, Merit Medical Systems, Inc. MMSI and Boston Scientific Corporation BSX.
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 5.1% for fiscal 2024. HOLX’s earnings surpassed estimates in all the trailing four quarters, the average being 27.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 1.4% against the industry’s 3.5% decline in the past year.
Merit Medical, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11%. MMSI’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 20.2%.
Merit Medical has gained 30.4% compared with the industry’s 2.4% rise over the past year.
Boston Scientific, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 11.5%. BSX’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.9%.
Boston Scientific has gained 24.7% against the industry’s 33.8% decline over the past year.
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