Cognizant (Nasdaq: CTSH) announced it has been named one of the leading companies in the pharmacovigilance market, offering an end-to-end spectrum of patient safety services in a new report by analyst firm Everest Group. Pharmacovigilance is the practice area aimed at ensuring drug safety through in-depth data collection and evaluation. As part of Everest Group’s Pharmacovigilance and Complaint Management Operations – Services PEAK Matrix® 2021, Cognizant was named a leader amongst its peers.
Evaluating 22 pharmacovigilance and complaint management BPS providers, Cognizant’s honor was fueled by the company’s immense scale of operations, strong domain expertise and overall market presence – with Cognizant increasing its revenue portfolio year-over-year. This success comes as Cognizant continues to invest in strengthening its technology-enabled solutions to better help clients achieve their digital transformation goals. Cognizant is also committed to creating a global network of delivery operations centers, which provides customized support for clients and an additional layer of business continuity.
“There is a widespread consensus in the drug/device vigilance market that significantly increasing safety case processing volumes is one of the most pressing challenges for enterprises,” said Manu Aggarwal, Vice President at Everest Group. “Cognizant’s strong market presence, diversified product handling experience, exceptional scale of safety operations and investments to enhance its technology solutions is helping tackle the case volumes and related-challenges for its clients and deliver cost-effective services. All these factors have contributed to its positioning as a Leader in Everest Group’s Pharmacovigilance and Complaint Management PEAK® Matrix Assessment 2021.”
“Following the unanticipated impact of the COVID-19 global pandemic, we expect to see continuity in vaccine development and novel drug therapies over the next several years,” said Srinivas Shankar, Senior Vice President and Global Head for Cognizant’s Life Sciences business. “Cognizant’s global scale and expertise in pharmacovigilance services, augmented by investments in automation, AI and machine learning are helping to expedite the development of life-saving drugs while minimizing risk to patients.”