IQVIA continues unethical tactics to divert attention from
industry-wide issue: IQVIA monopoly abuse harms life sciences
companies and patients
BARCELONA, Spain, 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/eu.
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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