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Stock impact report

Salesforce Stokes Fight With Veeva by Snagging Drug Customers [Yahoo! Finance Canada]

Veeva Systems Inc. Class A (VEEV) 
Last veeva systems inc. class a earnings: 3/3 04:05 pm Check Earnings Report
partner Veeva Systems Inc. in a mounting rivalry to sell software to the pharmaceutical industry. Most Read from Bloomberg More than 40 customers, including a “top three global pharma leader,” have inked deals to use Salesforce's soon-to-launch life sciences product, said Jeff Amann, executive vice president of Salesforce's industry-specific software lines. Some of those customers are switching from Veeva, he added. For pharmaceutical-focused customer relationship management software, Veeva is the “well-entrenched incumbent” with more than 80% market share, wrote Dylan Becker, an analyst at William Blair, in a November note. The company, which will generate an estimated $2.72 billion in annual revenue in the year ending in January, also makes tools for tracking drug development and data analytics. Veeva's customer relationship management product was historically built on Salesforce's platform. The two companies had a kind of nonaggression treaty dating to 2007, which let Veeva Show less Read more
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