update
BMS calls on Veeva for regulatory information management services
The US drug manufacturer will use Veeva Vault registration system to keep track of its product registrations and health authority correspondence and commitments and the Veeva Vault Submissions Archive to store previous submissions.
A Veeva spokeswoman told us that, like it's industry peers, B-MS's presence in multiple markets means it needs to manage and track a large number of regulatory submissions.
She said: "BMS has eight regional offices, 12 R&D Centers, and 32 different subsidiaries" which are all required to submit a range of different documents to regulators in the markets they supply.
Veeva launched the registration systems and the submissions archive – collectively known as its Vault RIM suit – in December and B-MS is the first customer announced to date.
According to the spokeswoman "Following our announcement of the products at our R&D Summit we've seen strong interest in the new RIM products.
"We have other small and mid-sized customers for both Vault Registrations and Vault SubmissionsArchive, and will be announcing one of them shortly" she said, adding that "BMS is the first top 20 pharma to select the products."
Financials
California-headquartered Veeva is due to announce its full year financials for fiscal 2016 today. In its previous results announcement the firm reported that the revenue contribution made by its regulatory, trial and data management businesses increased.
CFO Tim Cabral said: “For the first time, our non-CRM offerings accounted for more than 25% of total revenues in the quarter. Our success across the board stems from the reputation we've developed for exceptional quality and consistent delivery.”
Veeva predicted that revenue for the year will be between $404m and $406m, which is a significant increase on the $313.2m it generated in fiscal 2015. It also predicted operating income of around $109m, up from $40,4m.
