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IQVIA is a leading global provider of advanced analytics, technology solutions, and clinical research services to the life sciences industry, operating through three main segments . The company offers mission-critical information, technology solutions, and real-world insights, primarily serving biopharmaceutical clients with outsourced clinical research and trial services . IQVIA also provides healthcare provider and patient engagement services, contributing to its comprehensive suite of offerings .
- Research & Development Solutions (R&DS) - Provides outsourced clinical research and trial services primarily for biopharmaceutical clients, making it the largest contributor to IQVIA's total revenue.
- Technology & Analytics Solutions (TAS) - Offers mission-critical information, technology solutions, and real-world insights, significantly contributing to the company's revenue.
- Contract Sales & Medical Solutions (CSMS) - Delivers healthcare provider and patient engagement services, enhancing the company's comprehensive service offerings.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Ari Bousbib ExecutiveBoard | Chairman and Chief Executive Officer | Board Member at The Home Depot, Inc.; Member of Harvard Medical School Health Care Policy Council | Extensive leadership experience in healthcare and technology; led the merger of Quintiles and IMS Health to form IQVIA in 2016. | View Report → |
Bhavik Patel Executive | President, Commercial Solutions | None | Improved employee engagement and reduced attrition; promoted to President, Commercial Solutions in 2022. | |
Eric Sherbet Executive | EVP, General Counsel, and Secretary | None | Extensive legal experience; previously General Counsel at Patheon N.V. and InVentiv Health. | |
Ronald E. Bruehlman Executive | Executive Vice President and CFO | Board Member at GoodRx Holdings, Inc. | Played a key role in the merger of IMS Health and Quintiles; previously CFO of IMS Health. | |
W. Richard Staub Executive | President, Research & Development Solutions (R&DS) | None | Led R&DS to record-breaking backlog and industry-leading book-to-bill ratios; reappointed to this role in 2023 after serving as Senior Advisor. | |
Carol J. Burt Board | Director | Principal at Burt-Hilliard Investments; Senior Advisor at Consonance Capital Partners; Board Member at ResMed Inc., WellDyneRx, LLC, and Global Medical Response Inc. | Over 35 years of leadership experience in healthcare and financial services; serves on multiple boards and advisory councils. | |
Colleen A. Goggins Board | Director | Board Member at SIG Combibloc Group, Bayer AG, and The Toronto-Dominion Bank; Member of Citymeals-on-Wheels NYC and University of Wisconsin Foundation | Extensive leadership in corporate governance and sustainability; over 20 years of experience in healthcare. | |
James A. Fasano Board | Director | Board Member at Asurion | Extensive financial and investment experience; previously Managing Director at Canada Pension Plan Investment Board. | |
John G. Danhakl Board | Director | Managing Partner at Leonard Green & Partners, L.P.; Board Member at Life Time Group Holdings, Inc., Mister Car Wash, Inc., and others | Over 25 years of private equity experience; serves on multiple boards in various industries. | |
John M. Leonard, M.D. Board | Lead Independent Director | President and CEO of Intellia Therapeutics, Inc.; Board Member at Intellia Therapeutics, Inc. | Played a key role in enhancing IQVIA's corporate governance practices; extensive experience in biotechnology. | |
Leslie Wims Morris Board | Director | Vice Chair, Board of Trustees at Dance Theatre of Harlem | Leadership experience in governance and nonprofit organizations; joined IQVIA's board in 2022. | |
Todd B. Sisitsky Board | Director | President of TPG, Inc.; Board Member at Allogene Therapeutics, Inc. | President and Co-Managing Partner of TPG Capital; extensive experience in private equity and healthcare. |
- Given that TAS revenue growth was approximately 3% in Q1 and 4% in Q2, what gives you confidence that TAS will achieve 6% to 7% growth in the second half, and what are the specific drivers behind this acceleration?
- Could you elaborate on the mix shift impacting margins in the second half, and specifically, what intra-segment factors are contributing to the slight lowering of EBITDA guidance?
- With large pharma reprioritizing their portfolios and increased cancellations of clinical trials, how is this affecting your R&DS bookings and backlog, and have cancellation trends improved recently?
- Considering the recent acceleration in EBP funding, how should we think about the potential shift in revenue mix between EBP and large pharma clients, and what implications does this have for your full-service versus FSP offerings?
- Given your strong cash flow performance and reduced leverage to 3.25x EBITDA, what are your priorities for capital allocation, particularly regarding M&A opportunities versus returning capital to shareholders?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Aetion | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Panalgo (a Norstella company) | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Fortrea | Competes in both the Technology & Analytics Solutions business and the Research & Development Solutions offerings, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Deloitte | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Competes in both the Technology & Analytics Solutions business and the Research & Development Solutions offerings, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Cerner (an Oracle company) | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
McKinsey | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
NielsenIQ | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Optum Insight | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Parexel International Corporation | Competes in both the Technology & Analytics Solutions business and the Research & Development Solutions offerings, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Press Ganey | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
RTI Health Solutions | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Competes in both the Technology & Analytics Solutions business and the Research & Development Solutions offerings, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Definitive Healthcare | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Cegedim | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Tempus | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Merative | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
CompuGroup Medical | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Medidata | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. | |
ZS Associates | Competes in the Technology & Analytics Solutions business, providing information, analytics, technology, services, and consulting in the countries where the company operates. |
Syneos Health | Competes in both the Research & Development Solutions offerings and the Contract Sales & Medical Solutions business, providing services in the United States and internationally. |
Amplity Health | Competes in the Contract Sales & Medical Solutions business in the United States. |
Eversana | Competes in the Contract Sales & Medical Solutions business in the United States. |
Inizio | Competes in the Contract Sales & Medical Solutions business both in the United States and internationally. |
EPS Corporation | Competes in the Contract Sales & Medical Solutions business outside of the United States. |
Uniphar | Competes in the Contract Sales & Medical Solutions business outside of the United States. |
CMIC HOLDINGS Co., Ltd. | Competes in the Contract Sales & Medical Solutions business outside of the United States. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Multiple individually immaterial acquisitions | 2024 | IQVIA’s 2024 acquisitions were structured as several small business combinations with net assets acquired of $162M, $266M, and $734M in Q1, Q2, and Q3 respectively, including contingent consideration and deferred purchase prices. The deals focused on enhancing the workforce, realizing synergies, and building new customer relationships, with key assets such as goodwill and other identifiable intangibles (customer relationships, software, backlog, etc.) and preliminary purchase price allocations subject to adjustment during the measurement period. |
Multiple individually immaterial acquisitions | 2023 | In 2023, IQVIA completed acquisitions totaling net assets of $951M, which included assets like cash, accounts receivable, goodwill, and intangibles (customer relationships, backlog, software, etc.). These acquisitions aimed to strengthen the company’s workforce, deliver expected synergies, and expand customer relationships. |
Multiple individually immaterial acquisitions | 2022 | The 2022 acquisitions by IQVIA spanned three reporting periods with net assets ranging from $462M to $1,095M, incorporating significant goodwill and a range of intangible assets (customer relationships, backlog, software, trade names, non-compete agreements, and databases). The strategic rationale was to enhance service offerings and market position, while the initial fair value assessments and purchase price allocation remained subject to adjustment during the measurement period. |
Recent press releases and 8-K filings for IQV.
- Strong Q1 performance with revenue above guidance, improved EBITDA and EPS, and a notable 7.6% growth in TAS performance despite a traditionally soft first quarter for cash flow.
- Bookings were modest at 1.02, with delays in decision-making impacting quarterly performance, though overall pipeline and backlog indicators remain positive.
- Management addressed policy uncertainties, including potential tariffs and pricing changes, noting that current administrative impacts are more noise than signal.
- The company plans to deploy approximately $2 billion in free cash flow toward M&A and share repurchases, while maintaining comfortable debt levels and emphasizing its diversified business model with 40% TAS exposure.
- Q1 2025 revenue reached $3.829 billion with a 2.5% increase and 3.5% constant currency growth, driven by strong performance in the TAS and R&D Solutions segments .
- Adjusted EBITDA was $883M (up 2.4%) and adjusted diluted EPS was $2.70; GAAP Net Income was $249M with GAAP diluted EPS of $1.40 .
- The TAS segment delivered robust growth with a 6.4% increase (7.6% at constant currency) and achieved a record backlog of $31.5 billion, supporting future bookings .
- Full-year revenue guidance was raised by $275M to $16–16.4 billion, with updated expectations for Q2 and full-year 2025 driven by favorable foreign currency rates .
- IQVIA executed a $425 million share repurchase to enhance shareholder value .
- Management acknowledged macro uncertainty causing delays in decision-making, yet emphasized resilience through pent-up demand and cost-efficiency measures .
- On April 24, 2025, IQVIA’s stockholders approved an amendment to its Charter at the annual meeting, which includes officer exculpation provisions and removal of obsolete board structure provisions.
- The filing also details governance developments, including director elections and advisory votes on executive compensation, alongside updates to the authorized share structure.
- Global industry shifts: The call reviewed transformative trends in 2024 marked by major policy developments, innovative drug approvals (e.g., Cobenfy, Alzheimer's treatment, NASH treatment, and Moderna mRESVIA), and strategic investments including significant M&A activity like Novo Nordisk’s acquisition of Catalent.
- Changing market dynamics: There was detailed discussion on the rise in market share of top pharma players—from 37% in 2014 to 44% in 2024—and the shift towards innovative biologics, which now account for a larger market share than small molecules.
- Therapy area focus: The webinar highlighted key therapy areas, with oncology, immunology, and diabetes driving growth, and obesity emerging as a critical area due to its rising prevalence and escalating economic impact (projected to double from USD 2 trillion to USD 4.32 trillion by 2035).
- Evolving engagement strategies: Emphasis was placed on evolving HCP engagement approaches post-pandemic, with varied regional responses and a shift towards remote and digital channels to ensure robust launch strategies.
- IQVIA HOLDINGS INC. filed an 8-K report on March 10, 2025, announcing Amendment No. 4 to its Fifth Amended and Restated Credit Agreement, which includes refinancing efforts by converting outstanding Term B-4 Dollar Loans into Incremental Term B-5 Dollar Loans totaling $1.985 billion.
- The amendment outlines roles for key financial institutions as lead arrangers and specifies that the proceeds will be used to refinance previous term loans, cover transaction fees, and support general corporate purposes to optimize liquidity.