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Veeva Salesforce Agreement

by bamsco April. 09, 22 3 Comments

Veeva continues to be Salesforce.com preferred global partner for the pharmaceutical and biotechnology industries. The agreement includes Veeva`s minimum payment obligations for the term of the renewal. Otherwise, the commercial terms of the deal remain largely unchanged and Veeva expects the extension to have no impact on its financial model. Other risks and uncertainties that could affect Veeva`s financial results are included under the headings “Risk Factors” and “Management`s Discussion and Analysis on Financial Condition and Results of Operations” in Veeva`s Filing on Form 10-Q for the period ended October 31, 2013, which is available on the Company`s website under www.veeva.com in the Investors section and on the SEC`s website under www.sec.gov. Additional information about potential risks that could affect actual results will be included in Veeva`s other filings with the SEC from time to time. This press release contains forward-looking statements, including market demand and acceptance of Veeva`s products and services, the results of using Veeva`s products and services, and terms and conditions, particularly in the life sciences sector. All forward-looking statements contained in this press release are based on Veeva`s historical performance and its current plans, estimates and expectations and are not guarantees that such plans, estimates or expectations will be realized. These forward-looking statements represent Veeva`s expectations as of the date of this press release. Subsequent events may cause these expectations to change, and Veeva disclaims any obligation to update any forward-looking statements in the future. These forward-looking statements are subject to known and unknown risks and uncertainties that could cause actual results to differ materially. Other risks and uncertainties that could affect Veeva`s financial results are included under the headings “Risk Factors” and “Management`s Discussion and Analysis on Financial Condition and Results of Operations” in the Company`s Form 10-Q filing for the period ended October 31, 2016.

This is available on the Company`s website under www.veeva.com in the Investors section and on the SEC`s website under www.sec.gov. Additional information about potential risks that could affect actual results will be included in Veeva`s other filings with the SEC from time to time. For more details on the agreement, please refer to veeva`s form filed with the SEC today. “Throughout our history, salesforce.com has been a great partner,” said Peter Gassner, CEO of Veeva Systems. “The Salesforce1 platform provides the ideal cloud infrastructure for our CRM product, so we can focus on delivering the industry-specific applications and continuous innovation our customers need in the marketplace.” Veeva Systems Inc. is a leading provider of cloud-based software for the global life sciences industry. Veeva is committed to innovation, product excellence and customer success and has more than 190 customers, from the world`s largest pharmaceutical companies to emerging biotech companies. Veeva is headquartered in the San Francisco Bay Area and has offices in Europe, Asia and Latin America. For more information, see www.veeva.com. Creating additional capabilities is more about creating competitive advantages in the life sciences market than getting around its reliance on Salesforce. The ten-year agreement between the two companies explicitly limits Veeva to selling its distribution automation products “only to drug manufacturers in the pharmaceutical and biotechnology industries.” In turn, Salesforce has given up direct competition in the same market, although Veeva`s only way out if it breaks that deal would be to switch to a different platform.

Lisa Barbadora Veeva Systems 610-420-3413 pr@veeva.com Media Contact: Jeff Seedman 310-330-6994 pr@veeva.com Salesforce, Salesforce1 and others are among salesforce.com brands. Contact: Roger Villareal Veeva Systems 925-264-8885 roger.villareal@veeva.com “Working with salesforce.com, Veeva has been driving significant innovation in the life sciences industry,” said Keith Block, president and vice president of salesforce.com. Salesforce.com is committed to working with industry-leading vendors like Veeva to unlock new levels of customer success. PLEASANTON, CA — March 4, 2014 – Veeva Systems Inc. . . .

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