Veeva Systems (NYSE: VEEV) today announced Veeva Data Cloud to help support the industry by bringing greater innovation and choice to the data market. Veeva Data Cloud will include longitudinal patient and prescriber data offerings that will cover retail and specialty distribution channels, initially tailored for commercial use cases such as launch planning, patient segmentation, commercial analytics, AI, territory design, targeting, and incentive compensation.
Asaf Evenhaim, CEO of Crossix, is leading the development of Veeva Data Cloud. Veeva Data Cloud is powered by the Crossix Data Platform, a world-class technology platform built for the development and delivery of large-scale patient data and analytics. The Crossix Data Platform combines technology, privacy-safe processes, and continually expanding health data sets. Veeva Data Cloud will have the same open and customer-friendly usage agreements that exist today with other Veeva data solutions like Veeva OpenData.
“The life sciences industry needs a new, modern approach to patient and prescriber data,” said Peter Gassner, founder and CEO of Veeva. “We aim to bring innovation and choice to the market and an open approach centered on customer success.”
Veeva Data Cloud’s longitudinal patient and prescriber data solution for the U.S. market is expected to be available by December 2020 and will focus primarily on specialty distribution channels. Offerings for additional countries will follow in the coming years, enabled by a combination of Veeva product development, industry partnerships, and acquisitions.
Any expected financial impact of Veeva Data Cloud was incorporated into Veeva’s March 3, 2020 financial guidance and 2025 financial targets issued October 2, 2019.
About Veeva Systems
Veeva Systems Inc. is the leader in cloud-based software for the global life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 850 customers, ranging from the world’s largest pharmaceutical companies to emerging biotechs. Veeva is headquartered in the San Francisco Bay Area, with offices throughout North America, Europe, Asia, and Latin America. For more information, visit veeva.com.
About Crossix Solutions, a Veeva Company
A pioneer in patient data, privacy, and analytics, Crossix leverages the industry’s most advanced technology to connect comprehensive health and non-health data, covering more than 300 million lives – all in a privacy-safe way. It delivers data and insights to over 200 brands from top 20 pharma companies as well as leading health systems, pharmacies, and wellness brands. For more information, visit crossix.com
This release contains forward-looking statements, including Veeva’s ability to complete and release the Data Cloud offering for the United States within the timeframe specified, Veeva’s ability to expand the scope of the Data Cloud offering and the jurisdictions covered by the Data Cloud offering, the market demand for and acceptance of Veeva Data Cloud and Veeva’s data offerings, the results from use of Veeva Data Cloud and Veeva’s data offerings, the availability of patient and prescriber data, and general business conditions, including the competitive environment in which Veeva operates and in the life sciences industry. Any forward-looking statements contained in this press release are based upon Veeva’s historical performance and its current plans, estimates, and expectations, and are not a representation that such plans, estimates, or expectations will be achieved. These forward-looking statements represent Veeva’s expectations as of the date of this press announcement. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update the forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially. Additional risks and uncertainties that could affect Veeva’s financial results are included under the captions, “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in the company’s filing on Form 10-Q for the period ended October 31, 2019. This is available on the company’s website at veeva.com under the Investors section and on the SEC’s website at sec.gov. Further information on potential risks that could affect actual results will be included in other filings Veeva makes with the SEC from time to time.