Veeva Systems' (VEEV) dispute resolution with IQVIA (IQV) removes investor concerns about the risk of IQVIA cutting off access to CRM data, which was seen as a worst-case scenario during the legal conflict, Oppenheimer said in note Tuesday.
Both companies signed agreements that let their master data and third-party tools connect, and IQVIA will now join Veeva's partner program focused on technology, AI, and services, the investment firm said.
The deal is expected to boost demand for Veeva's non-CRM commercial products, which had slowed earlier due to legal uncertainty and blocked data access, Oppenheimer said.
IQVIA also joined Veeva's clinical partner program, which could eventually help increase use of Veeva's clinical trial tools, though the short-term impact is unclear. Oppenheimer analysts noted.
One possible downside for Veeva is that easier access to IQVIA data might reduce customer interest in switching to Veeva's own data product, Compass, which was seen as a backup option, according to the note.
Oppenheimer has an outperform rating on Veeva with a $325 price target.
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