Why did Veeva Systems stock go up today? Biopharma deals

JHVEPhoto/iStock Editorial via Getty Images Cloud based software solution provider Veeva Systems ( NYSE: VEEV ) traded higher for the fourth straight session on Thursday to approach a three month high following two partnerships with the biopharma industry. The Pleasanton, California based health tech company said Thursday that SK Life Science, Inc., a subsidiary of Korean drugmaker SK Biopharmaceuticals, is using its technology to speed up validation processes for enhanced inspection.

VEEV's technology, called Veeva Vault Validation Management, "allows us to further simplify our validation process for significant cost and time savings in test execution," SK Life Science's global head of quality assurance, Hina Patel, stated. The announcement came a day after the contract research organization Fortrea ( NASDAQ: FTRE ) announced a deal with Veeva ( VEEV ) to streamline clinical trials in collaboration with Advarra, a provider of clinical research technology.

"Extending our partnership with Fortrea to deliver Veeva Clinical Platform applications will meet the unique needs of patients, sites and sponsors while significantly improving study data quality and collaboration with sites," VEEV's vice president of Development Cloud Strategy Jim Reilly said.

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