Bristol Myers Squibb commits to Veeva Vault CRM for AI-enhanced engagement

PLEASANTON, Calif. - Bristol Myers Squibb (NYSE:BMS) has committed to implementing Veeva Systems’ (NYSE:VEEV) Vault CRM platform, according to a press release statement issued Monday. Veeva, currently valued at $45.14 billion, has demonstrated strong financial performance with a 15.33% revenue growth in the last twelve months. According to InvestingPro analysis, the company maintains excellent financial health with a "GREAT" overall rating.

The pharmaceutical company plans to use the customer relationship management system to enhance healthcare practitioner engagement through AI-embedded technology.

Greg Meyers, executive vice president and chief digital and technology officer at Bristol Myers Squibb, said the company aims to transform how healthcare practitioners make informed decisions about medicines by embedding AI into customer interactions.

Vault CRM is part of Veeva’s suite of applications for commercial operations in the life sciences industry. The platform will include several AI agents - Pre-call Agent, Content Agent, Free Text Agent, and Voice Agent - scheduled for release in December 2025.

"With Vault CRM we are delivering the next generation of CRM with embedded AI agents to advance healthcare practitioner engagement and help get the right treatments to patients faster," said Veeva CEO Peter Gassner in the announcement.

The collaboration represents an expansion of the existing relationship between the two companies. Veeva Systems currently serves more than 1,500 customers in the life sciences sector, ranging from large pharmaceutical companies to emerging biotechnology firms.

As a Public Benefit Corporation, Veeva states it balances interests of stakeholders including customers, employees, shareholders, and the industries it serves.

In other recent news, Salesforce has secured AbbVie as its latest top 20 pharmaceutical client for its customer relationship management solutions. This development follows Salesforce’s previous wins with major pharmaceutical companies Pfizer and Takeda. Meanwhile, Veeva Systems has seen a commitment from Gilead Sciences to implement its Vault CRM platform, expanding their existing partnership. This commitment is part of the nine total agreements Veeva disclosed during its recent earnings call.

Raymond James has reiterated an Outperform rating for Veeva Systems, maintaining a price target of $340.00, following these developments. Similarly, BNP Paribas Exane has also reiterated an Outperform rating for Veeva Systems, with a price target of $320.00. The firm noted that Veeva’s recent customer wins align with management’s previous discussions. Veeva is also planning to enhance its Vault platform with new functionalities, as announced at its Summit industry conference. These recent developments highlight ongoing growth and strategic partnerships within the pharmaceutical sector for both Salesforce and Veeva Systems.

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