PLEASANTON, Calif.,
May 11, 2021 /PRNewswire/ --
Consistent with its history of deceptive and unethical behavior,
IQVIA (NYSE: IQV) yesterday issued a press release that
mischaracterizes the nature of a recent procedural e-discovery
ruling in Veeva Systems (NYSE: VEEV) antitrust case against
IQVIA.
The release is another IQVIA attempt to divert attention from
the core issue — IQVIA's unlawful tactics to retain monopoly
control of data crucial to the life sciences industry and use that
position to extend its monopoly into the software market.
The Facts
- IQVIA's press release portrays the recent ruling as a final
determination of issues key to the case. This is false and
intentionally misleading. Only the jury can make a final
determination of fact. The ruling was issued by a special master
appointed to supervise discovery disputes and only deals with
technical legal matters. It does not decide any key issue that will
come before the jury in the case. Veeva disagrees with many of the
special master's discovery conclusions and is appealing the ruling
to the trial judge.
- All of Veeva's antitrust claims against IQVIA still stand and
are proceeding to trial. No new facts have been introduced as a
result of the ruling. In its last major ruling, the court supported
Veeva's case, upholding all of Veeva's claims over IQVIA's motion
to dismiss. After COVID-related court delays, the case is estimated
to go to a jury trial in early 2023. Veeva is confident in its
case, which has widespread industry support as life sciences
companies want the freedom to use the software and data products of
their choice.
- It has also been reported in a Capitol Forum article, "IQVIA:
FTC Investigating Allegations of Tying, Withholding Data from
Drugmakers," that the Federal Trade Commission is investigating
IQVIA's anti-competitive behavior, a positive development in light
of the magnitude of harm IQVIA is causing the industry and
patients.
"Veeva will continue to work for justice on behalf of the
industry to end IQVIA's decades-long practice of holding customers
hostage with its data monopoly," said Josh
Faddis, general counsel at Veeva Systems. "Despite its
attempts to misdirect, the fact is IQVIA's abusive and
anti-competitive practices block customer choice, competition, and
innovation, which ultimately harms patients."
To stay up-to-date on the status of Veeva's antitrust lawsuit
against IQVIA, visit veeva.com/NoDataRestrictions.
Additional Details
Discovery Dispute Relates to
Minor, Isolated Data Leak in Legacy AMS Database
IQVIA's
arguments to the special master focused primarily on a minor data
leak in 2015 that involved an insignificant number of IQVIA records
being processed within the legacy database of AMS, a company Veeva
acquired in 2013. The legacy AMS data processing project was
authorized by IQVIA. Veeva took steps to resolve the data leak
after it was discovered, and the same data processing project with
the same IQVIA data for the same joint customer continues to this
day with IQVIA's authorization and without issue.
The special master's opinion held, in part, that Veeva should
have begun preserving all documents after the AMS data leak was
discovered in 2015, rather than once IQVIA filed suit in 2017, on
the theory that Veeva should have anticipated litigation would
follow from the AMS data leak. Veeva disagrees that it should have
anticipated litigation would arise from a minor data issue and the
company plans to appeal the special master's ruling. The
decision does not call into question Veeva's extraordinary
company-wide efforts to preserve and share relevant evidence in the
litigation beginning in 2017.
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 975 customers, ranging
from the world's largest pharmaceutical 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.
Forward-looking Statements
This release contains
forward-looking statements, including the quotations from
management. Any forward-looking statements contained in this press
release are based upon Veeva's current plans and expectations as of
the date of this press release and are not a representation that
such plans or expectations will occur. Subsequent events may cause
these expectations to change, and Veeva disclaims any obligation to
update the forward-looking statements in the future. These
forward-looking statements are subject to known and unknown risks
and uncertainties that may cause actual plans to differ materially,
including those set forth under the captions "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and
Results of Operations," in the company's filing on Form 10-K for
the period ended January 31,
2021.This is available on the company's website
at veeva.com under the Investors section and on the SEC's
website at sec.gov. Further information on potential
risks that could affect actual results will be included in other
filings Veeva makes with the SEC from time to time.
CONTACT:
Deivis Mercado
Veeva Systems
925-226-8821
deivis.mercado@veeva.com
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SOURCE Veeva Systems