Opportunity for broader impact as 70% of key opinion leaders interact with only one biopharma

PLEASANTON, Calif., July 26, 2023 /PRNewswire/ -- Veeva Systems (NYSE: VEEV) today revealed findings of field medical's impact on clinical practice in the Veeva Pulse Field Trends Report. Analysis shows that disease state education by medical science liaisons (MSLs) with key opinion leaders (KOLs) before launch leads to 1.5 times greater treatment adoption. This result across the healthcare organization (HCO) within the first six months post-launch expands reach to more patients that could benefit from new medicines and therapies.

Scientific engagement with KOLs has a lasting impact on new treatment adoption and most KOLs are asking for more interactions with MSLs. Yet, 70% only engage with one company's field medical team. The lack of breadth in KOL engagement indicates a need for greater field planning and connected insights across the organization to identify and prioritize engagement with key experts. 

"The right data is foundational to our engagement strategy. We can quickly identify who the relevant KOLs are, and organize those KOLs based on when and where they are sharing scientific information and what scientific information they are sharing," said Christine Castro, director of medical affairs excellence at Lundbeck. "As we prepared for the launch of new treatments, this data-driven approach helped us build the right relationships and focus our resources where they will have the greatest scientific impact."

Veeva Pulse analysis shows pre-launch field medical educational engagement with KOLs has a measurable benefit on new treatment adoption:

• MSL engagement with KOLs before launch drives 1.5 times greater treatment adoption. Scientific engagement with KOLs, either in-person or video, increases new patient starts within the first six months post-launch.  
• New treatment starts sustain at 1.3 times greater 18 to 24 months after product launch. Engagement with MSLs before launch has long-term impact helping KOLs consistently identify and reach the right patients with the right treatment.
• Despite the value of medical field interaction, 70% of KOLs engage with only one biopharma. While the depth of individual connections may be substantial, the breadth of KOL engagement is not. An additional 30% of global experts, as identified in Veeva Link Key People, have no recorded interaction with MSLs at all. This limits scientific exchange, medical insights, and potential treatment adoption by patients in need.

"This deeper understanding of scientific engagement and treatment adoption shows the impact of field medical on launch success and most KOLs have greater potential to work with more field medical representatives to get the right medicine to the right patients faster," said Dan Rizzo, global head of Veeva business consulting.

About the Veeva Pulse Field Trends Report
Analyzing over 600 million HCP interactions and activities annually from more than 80% of commercial biopharma field teams worldwide, the Veeva Pulse Field Trends Report is the largest industry benchmark of its kind on HCP engagement. The analysis compiles real-time transactional data recorded in Veeva CRM and data products in Veeva Commercial Cloud to deliver a view of engagement activity across life sciences. Indexed by Veeva quarterly, the data will help companies effectively and accurately benchmark performance to set the right, actionable goals for continued growth and impact.

Additional Information
To download a copy of the Veeva Pulse Field Trends Report, visit: veeva.com/FieldTrends
Learn more about Veeva Business Consulting: veeva.com/BusinessConsulting
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems

About Veeva Systems
Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world's largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.

Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva's products and services and the expected results or benefits from use of our products and services. These statements are based on our current expectations. Actual results could differ materially from those provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2023, which you can find here (a summary of risks which may impact our business can be found on pages 37 and 38), and in our subsequent SEC filings, which you can access at sec.gov.

Contact:

Alison Borris
Veeva Systems
925-226-8821
alison.borris@veeva.com

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SOURCE Veeva Systems