Gilead Sciences adopts Veeva Vault CRM system for customer management.

Gilead Sciences adopts Veeva Vault customer relationship management system, expanding their long-term partnership with the company. The system is designed to provide advanced capabilities and agentive AI. Gilead is a leader in life-changing medicines for major scientific breakthroughs in virology, inflammation, and oncology.

Gilead Sciences has committed to implementing Veeva Systems' Vault CRM platform, marking an expansion of their longstanding partnership. The decision comes on the heels of strong financial results reported by Veeva Systems, which has seen several analyst firms raise their price targets. The biopharmaceutical giant will utilize the CRM solution to enhance its commercial efficiency and effectiveness, particularly in the life sciences industry.

The Vault CRM platform includes advanced AI capabilities, such as pre-call planning, compliant free text, and voice control, designed to optimize commercial execution. These features aim to improve operational efficiency and compliance, crucial for a company like Gilead Sciences, which operates in over 35 countries and develops treatments for HIV, viral hepatitis, COVID-19, cancer, and inflammation.

Anna Åsberg, global CIO at Gilead Sciences, expressed excitement about the expansion, highlighting their shared commitment to advancing medicine. The implementation of Veeva's CRM solution is part of Gilead's broader strategy to leverage technology for improved commercial outcomes.

Veeva Systems, which provides industry cloud solutions for life sciences, currently serves over 1,500 customers, ranging from large biopharmaceutical companies to emerging biotechs. The company's strong market presence, with a $46.12 billion market capitalization and a "GREAT" overall score, underscores its financial health and market leadership Gilead Sciences commits to Veeva Vault CRM^[1].

Analysts have responded positively to Veeva's recent performance. Piper Sandler raised its price target to $355 after a $22 million revenue beat and a $42 million increase in full-year guidance. UBS increased its target to $310 following a $20 million revenue beat. Similarly, Truist Securities raised its target to $275, highlighting Veeva's strong second-quarter performance. Raymond James reiterated an Outperform rating with a $340 price target, emphasizing Veeva’s plans to enhance its Vault platform with agentic functionality and the Model Context Protocol Gilead Sciences Commits to Veeva Vault Crm^[2].

Gilead Sciences and Veeva Systems did not disclose financial terms or implementation timelines in their announcement. However, this strategic move is likely to bolster Gilead's commercial operations, aligning with their mission to deliver life-changing medicines.