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| Medidata President Glen de Vries |
Medidata Solutions ($MDSO) is riding a wave of new pharma research in China. Daiichi Sankyo, a Japan-based pharma heavyweight, has chosen Medidata's cloud software for the group's clinical trials in China, expanding its long-time customer relationship with the New York-based company.
Medidata announced the business victory last week on the heels of revealing record-breaking numbers for the second quarter, and year to date the software company's stock has more than doubled in value. In its quarterly report the company highlighted that its customer base through the second quarter swelled 15% to 363 compared with the same period a year ago. Included in those totals are more than 90% of the world's 25 largest drugmakers, including Daiichi Sankyo.
"Daiichi Sankyo will bring Medidata's industry-leading applications for electronic data capture (EDC) and clinical data management (CDM) and randomization and trial supply management (RTSM) to its expanding clinical work in China," Medidata said in a press release. "Daiichi Sankyo's investment in the Medidata Clinical Cloud for its China division is expected to streamline trial activities, improve the efficiency of data capture and increase the productivity of site users and clinical monitors."
Last year Medidata was the second-largest provider of clinical trials software in the world by revenue, moving fast on the tail of Oracle ($ORCL), according to data from IDC Health Insights. Medidata has won its fair share of business from former Oracle customers, and China provides another key avenue for growth because of the expansion of clinical trials there. Like China's economy, Medidata's trials software business is on its way to No. 1.
- here's the release
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